Govt. to ensure Indian economy returns to high trajectory growth

New Delhi, May 29 (ANI): Minister for Commerce (trade) and Industry, Anand Sharma on Friday said that the Government would take all possible steps to stabilise Indian economy in times of global recession.

Addressing media after taking charge of his office, Minister for Commerce and Industry said the government will take every possible step to ensure a steady Indian economy, particularly at a time when recessionary trends have upset overall industry and trade around the globe.

Sharma, however, noted that the effects of global meltdown on the Indian economy were relatively lower and the Government had taken measures to curb recession.

"We have assumed office at a time when the global economic environment is challenging. It has witnessed a downturn; all countries have been affected adversely. We have also been affected but less adversely, if I may say so. Our emphasis will be to ensure that the Indian economy returns to the high trajectory growth. For that many measures have been taken and whatever is required to be done shall be done in the coming weeks and months," said Anand Sharma, India's federal Minister of Commerce (trade) and Industry.

He also said that India was ready to ink a host of pacts, including a free trade agreement with the Association of Southeast Asian Nations (ASEAN) and economic cooperation agreements with South Korea and Nepal.

"We have nearly finalised some FTA (Free Trade Agreements) agreements. One is with Indo-ASEAN free trade agreement also comprehensive economic co-operation agreements with Nepal stands finalised and with Korea we shall be taking them to the Cabinet soon," added Anand Sharma.

Designated as the Commerce (trade) and Industry Minister in the new government, a key post with responsibility for negotiating the country's stand at the Doha round of global trade talks, Anand Sharma will have much home work in his new capacity. (ANI)