Chennai, Jan 9 : Union Minister of State for Industries Ashwani Kumar has said that India is still a good growth story, as its economic fundamentals are strong.
Addressing the session ''Building Bridges: Trade and Investment'' at the Pravasi Bharatiya Divas 2009 here, Dr Ashwani said: "A GDP growth of 6.5 per cent is expected, even while most countries are suffering economic downturn."
He stressed that the diaspora must bring funds into India. "At the same time, it should engage in skill-building activities in the country," he added.
Indian exporters may announce large scale retrenchment drive in days to come to pressurize government for more financial relief to exporters. Director-general of the Federation of Indian Export Organizations, Ajay Sahai said, "The global economic demand is going down - that is the prime concern. The order book situation is pretty bad. From January onwards, we will have a lot of closures of units. "
It's the second day of transporter's strike across the country after the UPA government declined their demand to reduce fuel prices. A few number of trucks and commercial vehicles moved on the roads across various states. Meanwhile, LPG and Petroleum tankers truckers have also decided to extend support to strike.
All India Motor Transport Congress (AIMTC) would start nationwide strike from Monday. Transporters have been demanding decline in diesel price by Rs 10 per litre and uniform VAT of 4 per cent on fuel. 
Prominent credit rating agency Moody’s forecasts large scale decline in Indian export within next six months. Indian exports will decrease following decline in demand in markets of developed nations including US and European countries. 
