Chief Economic Adviser (CEA) Arvind Subramanian has said that India's economy has the potential to grow between eight to 10 per cent and achieving this growth rate is feasible backed by factors including the continuation and pace of reforms and global environment that promotes exports. He added that if the country continue with the current pace of reforms, get a few more things done, 8-10 per cent growth is really realizable.
However, Subramanian also said that 'there is a very low possibility or probability that India can grow at 8-10 per cent without rapid growth in exports. He said that “I think the possibility for India being different from other nations is that perhaps India does not have to do manufacturing, perhaps it can do a combination of manufacturing and services.”
He pointed that in the last one and half years there has been progress made in terms of foreign direct investment (FDI) and added that if the country maintains this pace of reforms may be accelerated India's potential would be realized.