Banker: Indian economy to grow at 7.5% this fiscal

Special Report:Global Financial Crisis

MUMBAI, Dec. 23 (Chinese media) -- India ICICI Bank chief K V Kamath said Tuesday that India's economy is set to grow at 7.5 percent this fiscal despite the global financial crisis, reported Press Trust of India.

K V Kamath, managing director and CEO of ICICI Bank, also predicted that India can also very well aspire for a 10 percent economic growth rate in the long run.

"Now there is a dispute that we are going to grow at 7.5 to 8 percent, 7 percent, or 7 to 8 percent. I believe we will grow at 7.5 percent and we can honestly aspire for 10 percent in the long run," said Kamath on Tuesday while addressing a function to celebrate the National Consumers' Day in New Delhi.

Kamath said that if the Indian economy grows between 8 percent and 10 percent, 10 million more Indians would get jobs and they will raise consumption levels and thereby drive the growth.

"When 10 million youngsters coming into the job market, I will create 10 million consumers. And these consumers will drive our economy," he said.