India to grow at 9.50% in 2010: IMF

India's growth will accelerate to about 9.50 per cent in 2010 as robust corporate profits and favourable financing conditions fuel investment, and then settle to 8.50 per cent in 2011, according to International Monetary Fund (IMF) projections. Large domestic demand bases in India, China, and Indonesia,which contribute substantially to Asia's growth, could also provide the region a cushion in the event of external demand shocks, the IMF said on Thursday. As Asia's strong recovery from the global financial crisis continues, despite renewed tension in global financial markets, world growth is projected at about 4.50 per cent in 2010 and 4.25 per cent in 2011, according to the July update of IMF's World Economic Outlook (WEO). Relative to the April 2010 WEO, this represents an upward revision of about 0.50 percentage point in 2010, reflecting stronger activity during the first half of the year, the IMF said, keeping its forecast for 2011 unchanged.