Indian economy can touch USD 10 trillion in next 15 yrs: HUL CMD Sanjiv Mehta
New Delhi: India has the potential to achieve a high GDP growth rate of around 10 per cent and be a USD 10 trillion economy in the next 12 to 15 years, HUL NSE -1.54 % CMD Sanjiv Mehta said on Monday.
Terming the present situation as a "massive opportunity for the country", Mehta said impetus should be given on digitising sectors like manufacturing, agriculture and pharma.
"In the last three decades, we have achieved about 6 to 6.5 per cent on an average GDP growth rate and if we have to create a 10 million jobs every year, then we have to cross this chasm between 6 and 6.5 per cent and 8 to 10 per cent...
“在过去的30年里,我们实现了约6 - 6.5%的平均GDP增长率,如果我们每年必须创造1000万个就业岗位,那就必须跨越6-6.5%到8-10%之间的鸿沟……”
"...the potential of the country is there and that would, forget USD 5 trillion, in the next 12 to 15 years we could be on the cusp of becoming a USD 10 trillion economy," Mehta said while addressing a virtual event organised by the All India Management Association (AIMA).
To achieve this, the country must "dream big, think big and act big", he added.
Speaking on "renewing the economy", Mehta said the country has to reach a virtuous cycle of growth.
"We have to reach a stage, where we get into a virtuous cycle of growth, where investments happen or really it starts with demand. The demand goes up, investment happens, livelihoods get created and then the virtuous cycle starts moving. So, we have to get to that stage," he emphasised.
Talking about the COVID-19 situation in the country, he said a USD 3 trillion economy is like an Airbus A380 aircraft and it must not be allowed to go into a free fall.
On economic recovery, Mehta said the key issue is determining the appropriate level of interest rate to spur growth.
"Now we have come to a very critical juncture, where the question is how much the interest rate should be brought down to give impetus to the economy.
"Second is how aggressive the government should be with the fiscal deficit. There would be a glide path to bring it down in the future in a very disciplined, open and transparent manner so that it gives confidence to both the investors as well as rating agencies," he said.
Some industries, which are big employers, have been seriously impacted by the pandemic and the question is how to bail them out, Mehta said.
He further said the country has a fantastic opportunity to invest in health infrastructure.
译文来源：三泰虎 http://www.santaihu.com/p/50875.html 译者：Jessica.Wu
People remain happy when they get regular income and all other needs are fulfilled. The present situation is just opposit to that and people are worried about their future. Why this situation has come? It's because of wrong policies of the Government. Now the situation is so bad that even if corrective measures are taken, it may take at least 2 to 3 years to attain normalocy. The present economic situation is very fragile as there is unrest all over the country, so economy may collapse if the situation is not handled properly by the Government.
IN 30 YEARS AND IN 50 YEARS. BUT WHAT ABOUT 2020 2021 AND 2022.
it's already 10 trillion by PPP in ð ®ð ³ which is real measure anyways. don't worry be happy
what will happen after 10 years has more to do with what we do in next 3..4 years
Not possible in present companies, corporates, and personal incomes taxes structures Also GST slabs should have more practical as should be 5%, 10% and luxurious items 20%. Otherwise this will be just dreams to 10 trillion US dollars economic of India by year 2036.
CORRECT. 5 Billion owned by Ambani and rest 5 Billion with Adani. Rest of India will still remain Poor.
‘‘Tis reputed newspaper is permitted this type false comment . It’s totally useless as like Modi government.
The enterprenuers voice is - how they can get capital at low cost? But they can not think how they can pass all benefits given to them to the customers. The money is being accumulated to a few hands, and the benefits of govt policies are mostly enjoyed by the advanced class of societies. The purchasing power of the 90% people are decreasing year to year.
India 10 trillion hogi thn 50 trillion ho jyegi n US 75 trillion
Don’t worry about “after 15years”. worry about next 2 years. So many people are going hungry every day, now.
please don't talk insane things to gain cheap publicity.
optimism and effective policy implementation are an essential element for an economy to grow.
with the Good foundation work current govt doing. and Atmanirbhar initiative. we will do it.
When you have illiterates'gang leading the country, illiterate PM, MA in history RBI governor, and sadhus from stone age, and go corona, corona go type of superstitious buffoons in the gang, all projections about gdp are joke...
of course with inflation today's GDP caculated after 15 years will be 15 Trillion
He is not suitable for the chair.