Given the positive signals in the economy, India is likely to witness double-digit growth over the next few years, a top banker said today.
"We are already witnessing 8-9 per cent growth in the latter part of the decade and this will grow. We expect double-digit growth over the next few years," ICICI Bank Chief Executive Officer and Managing Director Chanda Kochhar told reporters on the sidelines of a conference here.
Kochhar said the new decade is going to be India's decade as there is a visible shift of economic power from the West to East. The process has already started and it will culminate by the end of this decade, he said.
Noting that India has advantages like ability to innovate and the demographic mix, Kochhar said the country was entering into high growth trajectory driven by factors like domestic demand and investments.
"The demographic nature of our population will play a major role, which will be the mainstay of the growth in the near future," Kochhar said.
On investments, Kochhar said there is a need for increasing capacity in both manufacturing and infrastructure sectors.
Referring to the demographic advantage of the country, Kochhar said that India will be the youngest country in the next 20-years, surpassing China.
