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Member of the Economic Advisory Council to the Prime Minister, Sanjiv Sanyal has said ‘India is capable of generating a 9 per cent growth rate but in view of the geopolitical situation, we should be satisfied with a 6.5-7 per cent economic expansion’. He added that India is following an ‘investment and export-driven growth model’ and against the backdrop of ‘turbulent’ global times, the RBI and the government have followed a restrained macro-economic approach, which is a correct step.

He noted that ‘It is a very turbulent time and we are generating a 7 per cent growth rate already. Nothing to sniff at. But if we get an open road, this economic machinery that we have built is capable of generating a 9 per cent growth rate’. The global economy is facing supply chain disruptions following the outbreak of the Russia-Ukraine war in February.

He further said ‘this is not the time to try and overextend ourselves. Any growth rate between 6.5-7 per cent growth rate is not to be sniffed at. Even in the best of times. So let us be satisfied for now. But the time has come when we will be able to press the accelerator and I'm assuring you that the Indian supply side is ready for the big time’. He said India is getting inserted into the global supply chain.