Economy

Rural India to be new engine for double-digit growth: Kamath

PTI Thrissur | Updated on January 17, 2011 Published on January 11, 2011

ICICI Bank Chairman, Mr K.V. Kamath   -  The Hindu

India’s current economic growth would continue for at least 15-20 years and rural India would be the new engine for a double-digit growth, the Chairman of ICICI Bank Ltd, Mr K.V. Kamath, has said.

Delivering the third V O Abraham Memorial lecture on ‘The Dawn of the Indian Decade: 2010-2020’ here on Monday, Mr Kamath said that this would be India’s decade.

India would also emerge as the largest contributor to the global workforce and global innovations in the current decade, he said.

Despite the global recession, the country’s per capita income had gone up to $1,000 from $500 during the past five years, which was a tremendous achievement.

India is poised for another steep change in the decade based on domestic drivers and growing global relevance, he said, adding that key priority should be given for infrastructure development — roads, rails, power, ports, airports and other basic factors.

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Published on January 11, 2011
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