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Rediff News  All News  » Business » India may post 8% growth: Kamath

India may post 8% growth: Kamath

July 14, 2009 14:34 IST

India's growth is likely to be at least eight per cent in 2009-10, ICICI Bank chairman K V Kamath said on Tuesday.

"I expect that the economy will grow at a minimum of eight per cent in FY 10 and then may get on to the targeted growth of 9 and 10 per cent (in the coming years)," ICICI Bank chairman K V Kamath said at a meetingĀ in Mumbai.

Domestic consumption and investment would continue to drive the Indian economy, Kamath said, adding that the country would be on a high-growth trajectory in the next 15-20 years.

Kamath also said that liquidity is sufficient in the system.

According to him, market forces will decide the interest rate regime.

Asked whether the reserve currency would change from the US dollar to the Chinese yuan, Kamath said that he does not expect this to happen.

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