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India Disappointed 2012 Growth to Miss 8.5%, Sharma Tells Figaro

India is disappointed with a forecast of 7 percent economic growth this year, as it had hoped for 8.5 percent, Trade Minister Anand Sharma said in an interview with France’s Le Figaro newspaper.

“We are victims of the rise in raw materials prices, notably oil, on which we are very dependent,” he said in the interview. “But our economic fundamentals are good.”

Concerning the European debt crisis, Sharma told the newspaper that it has an impact on all countries. In response to any request for help from the International Monetary Fund, Sharma said that India would “cooperate as partners do.”

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