Key reforms to achieve 9-10% growth: Kant

The Dollar Business Bureau

Putting spotlight on structural reforms in India, NITI Aayog Chief Executive Amitabh Kant on Thursday said that the country has taken a series of steps including the GST enactment and demonetisation of 500 and 1000 rupee notes with a focus to achieve sustainable growth rate of 9-10% in the coming three decades. 

“We are undertaking structural reforms in India from the Bankruptcy Law to the Goods and Services Tax to demonetisation,” he said while addressing the 'India-Israel Economic Forum' organised by chambers FICCI, CII and ASSOCHAM.

Emphasising that key structural reforms will have a major impact on the country’s growth in the coming years, he said currently, India is facing ‘short term pains’ in order to achieve ‘long-term gains’. 

“Our goal is to achieve a growth rate of 9-10% in the coming three decades and on a continuous basis, which is why the government has started various new initiatives,” Kant said in presence of President of Israeli, Reuven Rivlin.

Addressing the Israeli President, he said that Indians are great admirers of Israel for its full support to our country in fighting terrorism.

He further said that if ‘Make in India’ scheme is to be successful; manufacturing of defence machinery must take place in the country. India is one of the biggest importers of defence equipment. We have to manufacture in India,” Kant said. 

“India has steadily enhanced its defence cooperation with Israel. Now, Israel is the third-largest supplier of defence equipment to India,” he added.

According to Kant, bilateral cooperation between the two countries has advanced from defence to cyber security and counter-terrorism and there has to be enhanced cooperation in these areas as they are likely to expand and grow.