Confident of India's growth at 6-8% for next 10 years, says Vaishnaw

Union Minister Ashwini Vaishnaw on Thursday expressed confidence that India will continue to demonstrate a 6-8 per cent consistent growth rate over the next 10 years as he invited global players to the country to tap domestic and global markets.

India is open to the world, and to new ideas, Vaishnaw, the Minister of Railways, Communications and IT, said while speaking at Raisina Dialogue 2024.

"The Indian economy is growing at a consistent clip at a very good rate. In the next 10 years, India will continue to grow at 6-8 per cent consistent growth rate...I can say that with a high level of confidence," Vaishnaw said.

The building blocks for this are already in place and the results are visible, he said, outlining various growth initiatives taken by the government under Prime Minister Narendra Modi.

The next five years will further lay the foundation for India to become a developed country by 2047, he said.

Vaishnaw said that the focus over the next five years will be on the full spectrum of manufacturing, upliftment through education, and infusion of technology in the healthcare sector, among other priorities.