'We have only tailwinds,' says Jio Financial Services KV Kamath

The Indian economy can achieve sustained growth as there are "only tailwinds," said KV Kamath, Chairman, Jio Financial Services on Friday. Kamath was speaking with CNBC-TV18 on the sidelines of the EY Entrepreneur of the Year Award event.

"I can see we have only tailwinds. Economy is in good shape. Growth has been good; corporates are investing; retail consumer is buying; interest rates are stable; and inflation seems to be under control. I don't see any particular headwinds. And if we keep on a steady path, we should achieve sustained growth for a very long period of 7%–8%."

On the health of the banking sector, especially in the wake of the recent stringent regulatory action against some entities, Kamath said, "The regulator (RBI) has very clearly shown that they would give a long leeway to the banks to adopt new technology and do new things, but within regulatory constraints, and that is what has to be adhered to and respected. Banks by themselves are in extremely good shape. You have never had capital adequacy at these levels, and you have spreads never at these levels."