We expect India to grow at around 7 to 7.5 in calendar year 2006.
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The worry is how long will this continue.
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As the US deficit continues to be financed easily, the optimists who think there is nothing to worry about are gaining ground over the pessimists who think an abrupt and costly adjustment is likely. But the optimists have to be right every day while the pessimists need to be right only once.
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