Former Vice Chairman of NITI Aayog, Arvind Panagariya has expressed need that Indian economy should grow at 8-10% annually if good jobs have to be provided to those joining the workforce, pointing that an export-led growth is very critical for creation of good jobs in the country.
Panagariya also noted that the country has to be open, for trade to grow, adding that ‘We have to return to becoming an export-led growth country.’ He further termed Indian economy growth rate of about 7% plus during the 15-year period from 2003-04 onwards as ‘very impressive’.
Besides, Arvind Panagariya emphasised that by increasing exports, imports will also automatically grow. He also noted that he has always maintained that India's problem is not unemployment but low wages.