India is targeting seven per cent growth in economy this year and we expect it to cross it in the next five years, External Affairs Minister S Jaishankar said on Saturday and adding that New Delhi will try to stay in the 7-9 per cent range at least for a decade and a half.
"We are targeting 7 per cent growth this year, but we expect it to improve in the next five years. And definitely, we would stay in 7-9 per cent range at least for a decade and a half," Jaishankar said at the Raisina@Sydney Business Breakfast.
"And you can today see the same reflected in the investment climate, both in the flow of FDI, FII as well as in the investments which the government itself is leading the capital outlay in this year's budget," he added.
Raisina@Sydney Business Breakfast is being organized jointly by the Australian Strategic Policy Institute (ASPI) and India's Observer Research Foundation (ORF) at the InterContinental Hotel in Sydney.
Taking about the Economic Cooperation and Trade Agreement (ECTA) singed between India and Australia on April 2, 2022 and came into force on December 29, 2022, Jaishankar said that the ECTA has a "good impact on trade".
"Encouraging greater investments should be the focus, especially during CEO Forum meets or the Prime Minister and Trade Ministers visit," he suggested.
Read more at: https://economictimes.indiatimes.com/news/economy/policy/india-targets-7-per-cent-economic-growth-this-year-expects-to-cross-it-in-next-5-years-jaishankar/articleshow/98032987.cms