Kamath Would grow High
K.V.Kamath, ICICI managing director and cheif executive said India could double its GDP in the next ten years if it kept growing at the present rate.
If we can take our growth rate to 10 percent, the doubling of the GDP could take place much faster,"he said while addressing a Confederation of Indian Industry (CII) gathering in hyderabad.
Mr Kamath said it was too early to speculate whether the economy was facing a slowdown, especially when there was investment worth over $700 billion in the pipeline.
Mr Kamath is bullish about the service sector and expects it to outperform the manufacturing industry. He expects the IT industry to grow at 10 percent this year. "Inflation by far the number one challenge. Industry performance is under pressure due to rising commodity prices," Mr Kamath said. Sustained high inflation was the biggest risk to the India growth story, he added.
Tags: Mr Kamath , ICICI Cheif , IT Industry , Would Grow , Industry
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.