India can attain a sustained economic growth of nine to 10 per cent over the next seven to 10 years with right fiscal discipline, said P.C.Chidambaram, Finance Minister, speaking to a select audience of investors and analysts in New York.
The growth rate could even cross 10 per cent with good monsoon coupled with “right policies, new initiatives and better governance,” added Chidambaram.
But that would require a mix of right policies, new initiatives and better governance, Chidambaram told .
Talking about investment opportunities in India, Chidambaram said the country needs 320 billion dollars to upgrade its infrastructure over next five years. The country would be able to find 200 billion dollars from its own resources but a foreign investment of 120 billion dollars would be needed, he said.