India likely to post 8% growth in FY 10: Kamath

India's economic growth is likely to be at a minimum of eight per cent in 2009-10, a leading banker said.        

"I expect that the economy will grow at a minimum of eight per cent in FY 10 and then may get on to the targeted growth of 9 and 10 per cent (in the coming years)," ICICI Bank's Chairman, K V Kamath, said at a meeting here today.        

Domestic consumption and investment would continue to drive the Indian economy, Kamath said, adding that the country would be on a high growth trajectory in the next 15-20 years.        

The ICICI Bank official also said that liquidity was sufficient in the system.        

 

According to him, market forces would decide the interst rate regime.

Asked whether the reserve currency would change from the US Dollar to the Chinese Yuan, Kamath said that he did not expect this to happen.