India's Economic Surge: Sustaining Growth and Simplifying Laws

India is poised for 6-8% economic growth, focusing on simplifying tariffs and customs laws to boost exports, according to Minister Ashwini Vaishnaw. The government emphasizes inclusive growth and has gained industrial confidence and value chain shifts. However, a minimum 7-7.5% growth is needed for India's large scale.

India will comfortably maintain a 6-8% economic growth rate while keeping inflation under control, according to senior Union Minister Ashwini Vaishnaw. He highlighted that simplifying tariffs and customs laws are pivotal in boosting exports.

Speaking at the World Economic Forum Annual Meeting, Vaishnaw emphasized inclusive growth as a pillar of India's economic blueprint, asserting that it contributed to Prime Minister Narendra Modi securing a third term. He added that India's unmatched talent and trusted policies are prompting companies to shift value chains to the country.

Industrialist Sanjiv Bajaj noted India's leadership in sectors like drones and commended the government's delivery on industrial promises. However, he stressed the need for a growth rate of at least 7-7.5% for a populous nation like India, while Vaishnaw noted further efforts needed in areas like land procurement.

(With inputs from agencies.)