AMN /
Finance Minister Arun Jaitley on Thursday said Indian with 8 to 9 percent growth rate can replace China as the driver of world economy. In an interview to BBC in New Delhi, Mr Jaitley said India see the recent turmoil in the china’s economy as a great opportunity.
The Minister said the country has already laid down a red carpet for businesses and the government is committed to push reforms agenda. Mr Jaitley emphasized that India is an investor-friendly destination and investors need not fear any retrospective legislations. He added that India is going to be one of the more investor-friendly destination and the present government will never resort to retrospective taxation.
Finance Minister also said in an environment where there is a relative global slowdown, India seems to be doing reasonably well. He expressed hope that Indian will achieve a better growth rate this year as compared to last year. According to International Monetary Fund (IMF), India will overtake China as the fastest growing emerging economy in 2015-16 by clocking a growth rate of 7.5 per cent.