The Indian economy can achieve 7 per cent growth in the next financial year due to conditions such as foreign investment, initiatives in the direct taxes and money committed to infrastructure, said Mr Subir Gokarn, Executive Director and Chief Economist of Crisil. He was speaking at the seminar on 'India 2005-06: Economic Outlook.' Mr Gokarn said that the factors in favour of India include two years of high growth, a benign inflation, non-agriculture growth, high forex reserves and favourable interest rates.