Market gyrations not to derail India growth story: Assocham

Sharp volatility and erosion of about 2,000 points in sensex on global cues with rising inflation and interest rates have not demolished India’s growth story, an Assocham survey said.

According to Assocham survey of CEOs and CMDs, 78% expect the Index for Industrial Production (IIP) to grow by 8.5% in 2006-07, improving upon the level of 8% in 2005-06.

The robust demand across various sectors, consumers spending as also the industrial intermediate, will not be significantly impacted by moderate price rise, which is unavoidable in the wake of pass-throughs of the energy prices, they said.