India needs to grow faster in next decade to become key player: N K Singh

India needs to grow much faster over the next 10 years with the use of technology and reforms in order to become an important global player, 15th Finance Commission Chairman N K Singh said on Sunday.

To achieve the potential growth rate of 7-8 per cent, India has to improve factor productivity and reduce incremental capital output ratio, he said.

Singh said technology, coupled with significant reforms in areas like health, education and maintenance of infrastructure, can make a decisive difference.

"If we wish to become important global player, we have to obviously grow much faster over the next 10