India has an infrastructure gap, says Jaitley

Pointing to India's huge infrastructure deficit, Finance Minister Arun Jaitley has said he sees a 'lot of investment' coming into the sector in the next few years.

"India has an infrastructure gap, a deficit where a lot of investment is required. I see at least for the next several years, a lot of investment being attracted into India, both from within the country and outside," Jaitley said in an interview to BBC World News broadcast on Friday. 

"More expenditure is going to mean more growth," he added.

Predicting a 7% or more growth in the country in the current fiscal, he said given "a friendlier environment globally, it could be much higher". 

Adverse global circumstances impact international trade, demand and the flow of capital, he said.

"Given these adversities, I think our domestic parameters are fairly sound," Jaitley said.