Team Blitz India
NEW DELHI: India’s economic growth may exceed 6 per cent for the rest of the decade, driving more investments from China into the South Asian country, a Goldman Sachs Group Inc.’s India economist said in a report in Business Standard.
“The long term growth potential is likely inching higher toward 6.5 per cent, or slightly higher,” Santanu Sengupta said in an interview with Bloomberg Television’s Haslinda Amin. He forecast growth at 6.3 per cent for the next fiscal year that starts in April, lower than Reserve Bank of India’s projection of 7 per cent.
“India’s demographics, strong government-led spending and healthy domestic demand makes it a “favorable destination for investments going forward,” he said.
Potential growth is an estimate of the pace an economy can grow at without causing excess inflation. India’s central bank governor last month estimated the nation’s potential growth rate was around 7 per cent.
