India ready for next orbit of growth: SBI chief

India is ready to move into the next orbit of growth with the hugely successful implementation of the COVID-19 vaccination programme, says State Bank of India chairman Dinesh Kumar Khara. He believes Indians are proud of the kind of vaccine drive the country as the domestically produced vaccine is being used in a big way.

India recently achieved a major milestone in its vaccination programme against COVID-19 as the cumulative vaccine doses administered in the country surpassed the 100-crore mark. “Actually, rapid vaccination has enhanced the confidence level of the common man as well as the economy,” Khara said at the India Pavilion at EXPO2020 Dubai. “The country has lived through one of the most challenging times and has come out of it in a very successful manner that gives the confidence that going forward, the journey should be rather easy, and we should be having a huge opportunity for growth which I am sure will go a long way in terms of meeting the common man’s aspirations.”

Khara highlighted that the credit growth in the economy was quite muted for almost two years and expressed hope that the capacity utilization will improve, and help revive investment demand in the corporate sector.

“The government has done a wonderful job by continuing its focus on infrastructure investment, which has gone a long way in terms of giving a push to the core sectors of the economy. And with private corporate sectors coming with the investment, the economy will certainly move to the next orbit of development,” the SBI chief said.

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In regards to the India Pavilion, he said it is presenting the real India, which is full of opportunities to the whole world in an impressive manner.