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Infra, pharma, IT to spur overall biz growth by 20%: ICICI

Last Updated: Wednesday, August 19, 2009 - 17:43

Mumbai: Private sector lender, ICICI Bank, expects the infrastructure, pharmaceuticals, education and IT sectors to contribute to overall business growth by about 20 percent this fiscal, a senior company official said.

"Things are going extremely well for the infrastructure, pharmaceuticals, education and IT/ITeS sectors. These have been agnostic to the financial crisis of the past few months," ICICI Bank Ltd`s General Manager, Sanjeev Mantri, told reporters here today.
The bank expects its order-book to grow led by an average 20-25 percent growth in these sectors, Mantri said.

"Infrastructure and pharma are expected to grow by around 20-25 percent in 2009-10. Besides, we see a 15-20 percent overall business growth in the SME (small and medium enterprises) segment," he said on the sidelines of an SME Expo.

The country`s largest private sector lender had last year seen a higher growth of 30 percent in its SME business.
"I don`t see the short-term getting impacted because of the turmoil of the last nine months. Export-led sectors like gems and jewellery and auto components were constrained. But, we have seen a recovery in these lately," he said.

Bureau Report

First Published: Wednesday, August 19, 2009 - 17:43

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