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India's Ambition Should Be To Grow At Higher Rates Of 8, 9 Or 10%: Amitabh Kant

India is growing at a 7 per cent growth rate and is the fifth largest economy in the world, says G-20 Sherpa, Amitabh Kant

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India targets to become the third largest economy by 2030, but its ambition should be to grow at higher rates of 8, 9 or 10 per cent, said G-20 Sherpa, Amitabh Kant on Tuesday.

While speaking at FICCI Global Young Leaders Summit, he said that India is growing at a 7 per cent growth rate and is the fifth-largest economy in the world

"It is very important as the compounding market growth has a huge impact," he added. 

Kant further stated that India today has around 90,000 startups and 110 unicorns and this has happened because India has digitally and technologically leapfrogged in many ways.

The G-20 Sherpa also stated that India has seen a huge digital revolution because of young entrepreneurs. 

They are not only innovating for India but for the world population who is moving up from poverty to middle class, he explained.

"Indian youth must get in the sunrise sectors of growth and the value acceleration will be much more. startups which are well governed, have good business models and have transparency and accountability will grow more and attract capital," Kant asserted.

As per him, startups should also focus on not only going digital but also green as the climate will be a key issue and valuation, capital will go in those areas where the companies go green.

Kant emphasised that there should be a fund of funds for deep tech and new emerging areas of growth.

Tags assigned to this article:
world economy india indian economy G-20 Sherpa amitabh kant