Despite the slowdown in global economy, a 9 per cent growth as envisaged in the 12th Five-Year Plan period from 2012-2017 is possible, Mohd Haleem Khan, Disinvestment Secretary, said here on Saturday.
According to Mr Khan, GDP growth is not driven only by exports but also domestic factors. Exports contribute about 15 per cent of the country's GDP and it should not “seriously affect the country's growth prospects”.
“The country is not just dependent on exports for growth,” he said, adding that providing job opportunities to the country's workforce is the biggest challenge during the 12th Plan period.
He added that Indian foreign trade contributed only 1.5 per cent of global foreign trade. As a result, the Indian economy is well insulated from global economic fluctuations, he said.