India's economy can grow by double-digit with sustained domestic demand and deregulation, billionaire mining tycoon Anil Agarwal said on Friday.
The gross domestic product (GDP) rose 8.2% in the July-September, the fastest expansion in six quarter and far higher than forecasts.
"India's economy is amazingly resilient. At a time of global headwinds, a growth rate of over 8% is very impressive," Agarwal, the chairman of the mining behemoth Vedanta Group, said in a post on X.
"Domestic demand and deregulation can take it to double digits. We are continuously strengthening our position as the world's fastest growing major economy," he told his two lakh followers on the platform.
Notably, output from mining and quarrying remained in negative territory both on a year-on-year and qurter-on-quarter basis, despite the government relaxing rules to enable transparent, auction-based allocation of mineral blocks, attracting investment and increasing the pace of exploration.
The GDP data showed manufacturing and services activity expanded sharply compared to last year due to higher private consumption and investment.
A government statement said improving price dynamics and tax reforms are expected to boost household disposable incomes, strengthening the near-term consumption outlook. Moreover, healthy corporate sector balance sheets augur well for sustained private investments in the remaining half of FY26.
Chief Economic Advisor V Anantha Nageswaran said income tax relief and employment schemes announced in the last two budgets have laid the foundation of continuing performance of the Indian economy.
India's full-year economic growth will likely be revised to 7% or higher from the current projection of 6.5%, Nageswaran said.
"The confluence of stable inflation, sustained public capex, and reform momentum positions the economy to navigate risks, as reflected in upward revisions to FY26 GDP growth projections by various agencies," the CEA told reporters at a press conference in New Delhi.
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