Middle class fueling broadbased growth: expert

Ahmedabad, Aug 24 (UNI) A growing middle and upper middle class is fueling broadbased growth in the country with 15 key sectors creating opportunities in the domestic market, said Mr Rajiv Aggarwal, partner of internationally renowned consulting services firm, KPMG.

Mr Aggarwal was speaking at the inauguration of 'Prayaag'06' a three-day management conclave at Nirma Institute of Management at Nirma University here today.

Of the top 100 Fortune 500 companies 44 per cent are in India. India's huge labour surplus will create largest supplies in the world. Availability of skilled resources and delivery capability will fuel positive economy, Aggarwal said. Unlike China which depends largely on exports, India has both domestic consumption and export potential, he added.

The executive director of GNFC Ltd Mr Deepak Taunk spoke on contemporary issues in finance. He pointed out the success stories behind passion and perseverance quoting examples of Karsanbhai Patel, Capt. Gopinath and LN Mittal.

The convenor of the conclave Prof VV Nath said that some of the best business minds have been invited to speak at 'Prayaag '06' on rural marketing, brand India, service industry enhancements, the new tale in retail, the PR-Advertising chase, investments in India, mergers&acquisitions, IP protection and expanding the scope of knowledge services in India.

The conclave would continue until Saturday.

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