Mumbai: India's benchmark stock index rose to its highest in more than six weeks after Finance Minister Pranab Mukherjee said the nation aims to return to a 9 per cent pace of economic growth.

Jaiprakash Associates, a builder of dams and roads, advanced 1.4 per cent. Fiscal consolidation will enable India to accelerate expansion in its gross domestic product, Mukherjee said at the weekend. Mahindra & Mahindra, the No 1 sport- utility vehicle maker, climbed after an industry report showed automobile exports increased at the fastest pace in 15 months.

"There is only one way for the index, and that's up," said Paras Adenwala, managing director at Capital Portfolio Advisors in Mumbai, which caters to wealthy Indians living outside the country. "I have no concern as the economy will grow at about 8.5 per cent" in the year to March 31, 2011. He declined to say what stocks he's buying or selling.

The Bombay Stock Exchange Sensitive Index, or Sensex, advanced for a second day, rising 108.11, or 0.6 per cent, to 17,102.60 as two shares gained for each one that fell. The S&P CNX Nifty Index on the National Stock Exchange rose 0.7 per cent to 5,124. The BSE 200 Index increased 0.6 per cent to 2,164.83. All three indices closed at their highest level since January 20.

The world's fastest-growing major economy after China may expand 8.2 per cent in the 12 months from April 1, from an estimated 7.2 per cent this year, India's finance ministry forecast February 25.