Do You Think Indian Economy Will Revive By October? I Doubt….
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    • Do you think Indian economy will revive by October? I doubt….

    India's economic downturn is "temporary" and the upturn will begin from October as the country's economy and business are resilient enough to adapt to the changing times of global meltdown, said Home Minister P.Chidamabaram

    "India stood out as a shining example of resilient economy and we owe this to the resilience of the Indian businesses and Indian economy, which quickly adjusted to the changing times. This (meltdown) is a temporary phase," said Chidambaram while giving away the annual National Tourism Awards.

    "In no other country, I have seen businessmen adjusting so rapidly and that is why we were able to hold our head high. I am sure this quality will steer the industry in 2009. Insha Allah, the growth rate of Indian economy will go over 7 percent," the minister said.

    "They should not be hesitant in cutting prices. It is more important to remain in business and retain clientele. Cutting prices is also better than losing loyal employees and business. Cut prices and the results would be visible."

    Chidambaram said     India is an attractive destination and no country in the world offers so much variety. While in 2008 about 5.37 million tourists visited the country, it was 5.07 million in 2007.

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