Emerging economies can expand at a “reasonable pace” in the next four to five years even if growth in developed nations is moderate, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday.
India’s economy is forecast to grow by 8.5 per cent this year, Montek said. However, he expressed hope that GDP growth rate will go up to 9 per cent in the near future.
Developing countries will be able to maintain strong economic growth rates, even though the primary drivers have slowed down, Ahluwalia said.
He also noted that India needed to pump in a lot more into its infrastructure development programme.