Temat: India can get double-digit growth

India can get double-digit growth: BBC editor
Agencies

Posted online: Tuesday , November 27,

Mumbai, November 27: BBC World Business' editor Peter Eustace said India could achieve double-digit growth provided the global Economy does well, the country pays attention towards infrastructure, continues encouragement of FDI inflow and its Companies continue to grow globally.

"I believe, in spite of the global economic slowdown, India will continue to grow at the current rate in the short-term. It is, however, difficult to predict what is in store in the next four to five years," Eustace said at a free-wheeling interaction with reporters.

He, however, pointed out that the slowdown in the world Economy can cast a spell over India's growth, though not to a large extent. At the same time, it can hold back India's dream of attaining double-digit GDP growth.

"The slowdown in world Economy may impact upto 1-2 per cent. However, if things look up, India will attain the double -digit growth target," Eustace said.

There are signs of slowing down of the US Economy, he said, adding that the EU Economy has been downgraded while the Middle East is growing.

Eustace said rising oil prices coupled with protectionism nature of the developed economies could hold back India's target of growing in double-digits.

"Terrorism is not a big challenge internationally and I don't think it can impact on the growth of the countries," he said.

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