Indian economy set for double-digit growth, predicts BRICS bank chief

The Indian economy will achieve double digit growth rate despite  some bottlenecks, the president of the recently established  BRICS Development Bank K V Kamath said on Saturday. “We have a very conducive climate with very low commodity prices and low oil prices. This is what is required for driving growth. We have that in our grasp now,” he said, commenting on new predictions that India’s economy would grow by between 7% and 7.5% by the end of 2016. 
“So I can not think of any other country of this size and magnitude which is poised for growth like India is…. The government has clearly set in motion a whole lot of things that will take time to take root. My view is India is well set to start looking at and start touching double digit growth… It won’t happen overnight, but it will certainly get there.”

Source: indiatimes