{"id":81968,"date":"2024-06-26T21:29:11","date_gmt":"2024-06-26T21:29:11","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/26\/india-needs-to-grow-at-8-pc-every-year-to-be-3rd-biggest-economy-by-2030-lt-chairman-emeritus\/"},"modified":"2024-06-26T21:29:11","modified_gmt":"2024-06-26T21:29:11","slug":"india-needs-to-grow-at-8-pc-every-year-to-be-3rd-biggest-economy-by-2030-lt-chairman-emeritus","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/26\/india-needs-to-grow-at-8-pc-every-year-to-be-3rd-biggest-economy-by-2030-lt-chairman-emeritus\/","title":{"rendered":"India needs to grow at 8 pc every year to be 3rd biggest economy by 2030: L&T chairman emeritus"},"content":{"rendered":"
\"India<\/div>\n
Mumbai<\/a>: Veteran industry leader A M Naik<\/a> on Wednesday said the country will have to grow at 8 per cent every year to become the third biggest economy<\/a> in the world by 2030. “If you want to be the third largest by 2030<\/a>, then you need an 8 per cent growth,” the L&T Chairman Emeritus<\/a> told reporters here. <\/p>\n

India<\/a> is the fifth largest economy in the world with an economy size of over USD 3 trillion, and it is widely believed to overtake Japan and Germany to become the third biggest. <\/p>\n

The country grew at 8.2 per cent in FY24, and the average yearly growth for the last three years has been over 8 per cent. <\/p>\n

However, the GDP expansion is widely expected to slow down to about 7 per cent in FY25 and much slower ahead on a larger base. <\/p>\n

“Our expectation is that the country should grow at 8 per cent. Broadly, if you really want to get to the third largest economy less than 8 per cent growth will find it difficult to reach there,” he said. <\/p>\n

Naik, who has been associated with the L&T Group for over six decades, declined to comment on the changes in the policy framework that would be essential to achieve the growth targets. L&T Chairman S N Subrahmanyan<\/a> said he is sanguine about the same policies will continue as the same government has come back to power, and added that it is a majority government as well. “It is same govt releected with a different kind of a mandate,” he said, when asked about the challenges that will be faced by a coalition government. <\/p>\n

He said all the key ministries continue to be headed by the same ministers which is a comforting factor from a policy continuity perspective. <\/p>\n

“The policies will continue, the infrastructure spending will continue and the ability to create more avenues for growth etc. will be there. It’s a very good feeling to have,” Subrahmanyan said.<\/p>\n<\/div>\n


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Mumbai: Veteran industry leader A M Naik on Wednesday said the country will have to grow at 8 per cent every year to become the third biggest economy in the world by 2030. “If you want to be the third largest by 2030, then you need an 8 per cent growth,” the L&T Chairman Emeritus […]<\/p>\n","protected":false},"author":2,"featured_media":81969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-111293500,imgsize-41568.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[54514,2976,72710,1424,2874,1933,4674,7743,273,49489,72712,352,72711,72709,568],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/81968"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=81968"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/81968\/revisions"}],"predecessor-version":[{"id":81970,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/81968\/revisions\/81970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/81969"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=81968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=81968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=81968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}