India has huge potential for growth

India has to work on the speed of economic growth and remove roadblocks to tap the huge potential such as talent and population, the former PepsiCo chairperson Indra Nooyi has said.

Her comments echoed global investors call for further improvement on ease of doing business in India, which they see as a huge market place with growing middle-class creating the world’s largest consumer driven market. Global investors also see India as a best place for export-oriented industries but there needs to be more flexibility in helping new investors to set up business on fast-track.

While global economies are facing headwinds, India has a steady economy but its 7+% growth is too little while the potential is for at leaset 8% and above, they said.

“The country does have huge potential, talent wise, population, everything, the country has huge potential. The real question is the speed of growth and how many roadblocks are we willing to remove,” Press Trust of India reported quoting Nooyi.

Nooyi, who stepped down as head of PepsiCo last October, was responding to a question on India and its growth potential during an interaction hosted by the Consulate General of India in New York on the city on 28 Mar 2019.

“India has got to do what is right for India. I am not the person to opine on that. India has got to do what is right for India, just as Europe should do what is right for Europe,” she said as a guest speaker at the ‘New India Lecture’ series. fiinews.com