Open road without obstacles can generate 9% growth, says Sanjeev Sanyal

India's economic machinery is capable of generating 9% growth if we get an open road without obstacles like a global slowdown and not enough liquidity, Sanjeev Sanyal, member of the Economic Advisory Council to the PM (EAC-PM) said.

Hailing the government's restrained macroeconomic approach, Sanyal said, India is currently growing at 7% and we should not overextend ourselves.

"Time will come when we will press the accelerator and India's supply chain is ready to deliver," he said. Sanyal was speaking at the Times Now Summit 2022 on Friday.


Talking about opportunities for India at global fora, Sanyal said India needs to punch its weight in instead of just delaying or disrupting talks at the World Trade Organisation. "G-20 is a big opportunity. If we articulate our ways and our demands are reasonable, the rest of the world will accommodate," he said.

According to Sanyal, the earlier pattern and framework of globalisation is under challenge, nevertheless India is getting into the global supply chain and our services export is still booming.

"India's investment and export driven growth model is beginning to show results," he said. "Mentally we need to remap ourselves to think globally and think of our neighbourhood in wider terms," he added.

Commenting on the various global indices, Sanyal said that while they are important as they feed into sovereign ratings there is a case for re-looking at some of these as there are serious problems with the questions asked and no proper surveys done.