New Delhi: Buoyed by the return of the feel-good factor and prospects of higher seven per cent growth this year, Prime Minister Atal Bihari Vajpayee today (Nov 29, 2003) said the second phase of reforms would be given new thrust with emphasis on infrastructure and agriculture development.

"We are in the second phase of reforms, upgrading infrastructure and in the field of agriculture," he said adding, "Indian economy is on the move."

Vajpayee also sought to allay fears in the developed countries that booming outsourcing of business processes from India was robbing them of their jobs.

"That's not true," Vajpayee told reporters at the end of the two-day India-EU Business Summit.

In fact, through this outsourcing, India was helping the world to develop speedily, he added.

Vajpayee also said India had close co-operation with United States which would continue.

Asked how long would it to take to have such close cooperation with EU, Vajpayee said this could be best answered by the European Union.

PTI