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Indian automobile manufacturing sector due for a boost | Transport Minister Kamal Nath has said the high trajectory growth in manufacturing sector, especially automobiles, would boost an ambitious plan to build roads. Talking to reporters on the sidelines of auto show here on Wednesday, Kamal Nath said:" This is a tremendous
leap forward for the manufacturers sector and manufacturers sector which is sustaining
employment generation in the economy is one of the example of resilience of the
Indian economy. Where global economy is stressed, but in India, 100 new cars and
10 new launches is for the world to see." He also said that the impetus in the
manufacturing sector would boost the country's plans to build new roads to strengthen
infrastructure. India has the world's second largest road network at 3.4 million
Km. the national highway network, which doubled in size between 1997 and 2007,
stands at an impressive 70,000 km (43,500 miles). After years of neglect, the
Congress-led government voted back to power in May is pushing to build 20 Km of
roads each day as part of its plans to improve infrastructure in Asia's third-largest
economy. Analysts estimate poor infrastructure shaves an estimated one or two
percentage points off India's annual economic growth, which slowed to 6.7 percent
in 2008/09 after three years of nine percent or more growth. Under a 34-billion
dollars program partly funded by the World Bank, some 375,000 Km of new rural
roads will be built until 2010 and nearly the same length improved. |
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