Niti Aayog CEO Amitabh Kant has said that achieving 9-10% growth rate in the next 30 years would be a challenge for India, even though the country is expanding at 7.5% growth rate per annum.
Highlighting the Indian Start-Up ecosystem, Kant said that the country has created one of the finest startup ecosystems in the world and these ventures are doing extremely well. He added that startups from Silicon Valley and Singapore are relocating to India. He also termed India as a billion plus market and urged investors to utilise their funds more effectively by investing in India.
Niti Aayog CEO also underlined ongoing demographic transition of the country as 72% of its population is young and the population will keep growing younger. Besides, beating all the estimates, India’s third quarter Gross Domestic Product (GDP) growth numbers grew at a rate of 7.2% as against growth of 6.5% in the previous quarter. Besides, full FY18 GDP growth is pegged at 6.6% against 6.5% a year ago.