India should focus on ensuring eight percent growth, believe industry stalwarts
New Delhi [India], Oct 6 (ANI): The annual India Economic Summit, which began earlier today in Delhi witnessed the nation celebrating its 16 point improvement in the world competitiveness index.
ANI
Oct 06, 2016 19:07 IST
New Delhi [India], Oct 6 (ANI): The annual India Economic Summit, which began earlier today in Delhi witnessed the nation celebrating its 16 point improvement in the world competitiveness index. Both policy makers and industrialists expressed their delight over a drastic change in India's economic patterns and wished for a lot more that still needs to be done to ensure that India grows at eight percent over the next few years. Speaking on India's inflection point and what the country needs to do to transform the state of its economy and people through digital transformation, NITI Aayog CEO Amitabh Kant said the only way India can catch up with the world is through use of digital technology. He emphasized that India needs to bring about radical restructuring of its health and education system if it were to grow at a sustainable rate of eight percent in the next three decades. According to Chandrajit Banerjee, Director-General of the CII, "India's economy is widely expected to grow at around eight percent in the medium term. Identifying the right policies so that we sustain this growth rate for a generation would be the key to achieving the development expectations of our country." "All the successive governments have followed the path shown by him and the result has been positive so far. It has been huge journey from reaching to million dollar economy to two trillion dollar economy in over the one and half decade," added Banerjee. Union Commerce and Industry Minister Nirmala Sitharaman on her part said the government also needs to ensure that whatever investment is coming into the country actually translates into rapid productions, exports and lead to creation of good jobs in the country to help us achieve high growth. (ANI)
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