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The Indian economy will grow in excess of 7 percent in the current fiscal year, Trade Minister Kamal Nath said on Tuesday.

The global slowdown has hit key sectors of the Indian economy and growth is widely expected to slow to 7 percent or less in 2008/09.

The Reserve Bank of India (RBI) has cut its growth forecast to 7 percent with a downward bias from the previous 7.5-8.0 percent.

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