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

Source: PTI
August 19, 2009 17:19 IST
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Indian rupeesICICI Bank expects the infrastructure, pharmaceuticals, education and IT sectors to contribute to overall business growth by about 20 per cent 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 in Mumbai on Wednesday.

The bank expects its order-book to grow led by an average 20-25 per cent growth in these sectors, Mantri said. "Infrastructure and pharma are expected to grow by around 20-25 per cent in 2009-10.

"Besides, we see a 15-20 per cent 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 per cent 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.

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