Chennai: Noted management expert C K Prahalad on May 29 said that, "India needs to aspire for a double digit economic growth capitalising on resources within, than pinning high hopes on Foreign Direct Investments (FDI)."

"FDI’s could just be an aid and multiplier to growth and not a substitute for internal resources," he said advising not to look abroad for help.

Prahlad who was in the city in connection with a global management development programme said during an informal interaction with select media, that massive restructuring was taking place across the globe in the corporate sector driven by the need to cut costs, mining new revenue sources and outsourcing.

This global scenario provided excellent opportunity for India that could easily fill in the gaps in business opportunities arising out of the restructuring that was taking place in the global corporate sector.

According to him, Indian talents were in demand not because of the cost factor but because of the quality. Prahlad pointed out that India needed to aspire for a growth rate of 12 to 15 per cent so as to generate employment for at least 10 to 15 million people year after year. The growth potential lay in sectors like alternative systems of medicine such as Ayurveda.

PTI