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India likely to maintain ‘high growth rate’ of 7-8% over next decade: Arun Jaitley
Dec-06-2018

Among the world's fastest growing emerging economies, Finance Minister Arun Jaitley has said that India may maintain the ‘high growth rate’ of 7-8% over the next decade. The minister underlined that   landmark reforms such as the Insolvency and Bankruptcy Code (IBC) offer an attractive and conducive environment to foreign investors to the country.

He further stated that the 7% economic growth rate by Indian standards is now considered to be the lower end of the moderate growth rate and their aspiration is to touch and cross that 7%. Besides, highlighting the investment opportunities in India through the IBC process, he said it is a great opportunity as far as investors are concerned and therefore those seriously thinking about investment in India. He also mentioned given the future potential of the Indian economy, the fair manner in which the IBC is now proceeding.

Moreover, he pointed out that there cannot be a better opportunity than the present one which is being offered through the IBC process itself. This is the right time and right place to be in India for these kinds of investments. He noted that about 1200 applications have been filed as far as resolution under the IBC are concerned and about 1000 cases are pending. This means that over the next few months these assets will go in for a bidding process and it's a great opportunity to come and look at these assets.

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