Capital goods sector's share in GDP in FY09 has fallen

27 Feb 2009 | 11:25 Capital goods sector's share in GDP in FY09 has fallen
India's capital goods sector will contribute around 7.1% to the country's gross domestic product (GDP) in fiscal 2008-09, compared with 9% a year earlier, the heavy industry minister Sontosh Mohan Dev said in a speech on Friday, 27 February 2009.

Sontosh Mohan said the decline does not bode well either for the sector or the economy as a whole. He further added that the sector has been greatly affected by cheap imports from some countries.

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