Econintersect: The official government estimate of GDP growth in India is 8% – 8.5%. K.V. Kamath, the chairman of computer software and services giant Infosys Technologies, says that the government is not making accurate measurements. Kamath says the real growth rate is 30% to 50% higher than the government reports. As China appears to be slowing down, Kamath feels India is picking up steam.From The Times of India:
There are several uncounted and unaccounted figures which could easily add another 3-4 percentage points to India’s GDP, he said. India, he said, is thus growing at the double-digit rates we have become used to seeing in China in recent years and Japan in the 1980s. As for India’s per capita income, Kamath said India stands where China was 10 years ago, and in the next 10 years, it will stand at where China’s per capita income stands today. Kamath said for this growth to be truly transformational and benefit a larger proportion of the masses, India has to put more emphasis on certain areas.
Kamath identified a number of factors that will drive growth, including the consumer and dramatic improvements in efficiency from new technology.
Source: The Times of India
Article by Sanjeev Kulkarni
Sanjeev Kulkarni is an entrepreneur based in Pune, India. He worked for large organizations in board level position before venturing on his own. He is currently involved as an investor in health care software company and as an investor, mentor in an automation company. Very widely traveled, he has experience of working in different geographical areas with people of varying nationalities. He did his BS from Indian Institute of Technology, Delhi.