India likely to post 8% growth in FY10: Kamath

India likely to post 8% growth in FY10: Kamath
PTI
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First Published: Tue, Jul 14 2009. 02 25 PM IST
Updated: Tue, Jul 14 2009. 02 25 PM IST
Mumbai: India’s economic 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 8% in FY10 and then may get on to the targeted growth of 9 and 10% (in the coming years),” ICICI Bank chairman K V Kamath said at a meeting 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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First Published: Tue, Jul 14 2009. 02 25 PM IST