IBN CEO + Economic Growth in INDIA

On Friday ICICI Bank (IBN) CEO, KV Kamath, spoke at an investor conference in Mumbai, India and updated the investor community with his unique short + long term views on the current GROWTH prospects of the INDIAN ECONOMY:

*In the immediate future (most likely referring to growth for 2008) India is expected to grow at 8%...a rate that is being somewhat handicapped by the 'temporary challenge' of inflation facing the country

*In the longer run, India should grow at about 10%...and this phase of growth could continue for 17-20 YEARS (!)

For some perspective, the U.S. is a much more mature economy vs. India and economic/GDP growth in an annual range of 4 to 5% is considered robust.

http://www.financialexpress.com/news/ICICI-Bank-to-wait-for-cues-before-effecting-change-in-rates--Kamath/292594/

Data Courtesy: Financialexpress.com, snagged on 4/05/08.
Full Disclosure: I own shares of IBN.