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India's growth rate, according to the 'Asia-Pacific Markets Outlook 2011' report released by the S&P on Wednesday, would moderate to 8-8.5 per cent this year.

The rupee had depreciated by 19 paise to close at Rs 45.25/26 against the US currency in Tuesday's trade on renewed dollar demand from banks and importers.
Linking food inflation to global developments, Finance Minister Pranab Mukherjee pointed out that the surplus liquidity is being converted into commodity.
Forex traders said dollar gains against other Asian currencies and a weak opening in the stock market mainly put pressure on the Indian currency.
The garment manufacturers who are pitching for removal of 10 per cent excise duty on readymade garments, will again observe a two-day nationwide strike from Monday.
In January, manufacturing growth plummeted to 3.3 per cent from 17.9 per cent a year ago. The capital goods sector contracted 18.6 per cent in the month under review.
India's exports went up 49.8 per cent year-on-year to $23.6 billion in February on the back of increased demand from markets like North America, Asia and Africa.