Former Chief Economic Adviser K.V. Subramanian has said India has the potential to grow at 8-9% if it pushes ahead with structural reforms. His comments highlight the view that the country’s growth capacity is strong, but that policy changes are needed to fully unlock it.
According to Subramanian, a key priority is reducing the cost of doing business and the cost of financing. Lower compliance burdens, faster processes and easier access to capital can help improve the business climate, support investment and encourage expansion across sectors.
He also stressed the importance of judicial reforms, pointing to the legal system as a major factor in improving economic efficiency. Faster dispute resolution and a more predictable enforcement environment can make it easier for companies to operate, invest and plan for the long term.
Alongside judicial changes, bureaucratic reforms were identified as another important lever for raising India’s growth trajectory. Streamlining administration and improving decision-making could help remove bottlenecks and create conditions for stronger, sustained economic momentum.
