We need to nurture and strengthen the MSME sector in the country as today’s MSMEs will converge into large industrial houses tomorrow or even MNCs in the times to come. In order to take the country on to a higher and sustainable growth trajectory, it is necessary to significantly enhance our manufacturing capabilities.
4.  International interest rate and inflation developments  At the beginning of the 1990s, world inflation averaged around 30 per cent compared to an estimated 3,8 per cent in 2006. In 1992 there were 44 countries with inflation rates in excess of 40 per cent compared to 3 in 2003.