Sunday, January 1 2006 13:13 Hrs (IST) - World Time -

New Delhi: After ensuring that India got the recognition of a 'potential global economic powerhouse' last year, Finance Minister P Chidambaram today (Jan 01, 2006) made his New Year wish of sustaining over 7 per cent growth in 2006.

"In the year 2005, India received significant international recognition as potential global economic powerhouse. I hope that in 2006, India will make substantial progress towards realising that potential," Chidambaram said in his message for the New year.

"The only way to make growth more inclusive is to sustain the rate of growth in excess of 7 per cent over the next year. And I am confident that the year 2006 will continue the trend," he said.

In order to sustain the high growth, he said, investment needs to be stepped up particularly in infrastructure, agriculture and social sector.

"The key to addressing growth with equity in this country is agriculture," he said adding United Progressive Alliance (UPA) was committed to step up public investment and flow of credit to the farm sector.

"Manufacturing is another area with tremendous potential to create employment," Chidambaram said.

He said India have a competitive advantage in certain areas of manufacturing and services including automobiles, auto components, gems and jewellery, pharma, IT and BPO sector.

"In 2006, I look forward to greater investment taking place both domestic and FDI in all these sector.

Considerable ground work has been done to carry forward the reform agenda with a human face, the Finance Minister said.

"I am sure this hard work will bear fruit in the New Year," he said.

Achieving the potential means having faith in oneself, Chidambaram said, adding "India and Indians need to have as much belief in themselves as rest of the world has bliss in us".

Finally, Chidambaram said, "I wish 2006 will be a disaster-free year for India and the world".