India's gross domestic product (GDP) would be around 8.2 percent next fiscal, Chairman of the Prime Minister's Economic Advisory Council C. Rangarajan said Friday.

'In the current fiscal (2009-10) we would clock 7.2 percent GDP and 8.2 percent in the next fiscal (2010-11),' he said, addressing a conference organised by the Calcutta Chamber of Commerce.

To achieve a growth rate of 7.2 percent in 2009-10, the economy needs to grow at 8-9 percent in the January-March quarter, a growth rate he said is achievable with robust industrial production and expectation of a good Rabi crop.

Rangarajan expects a growth rate of 9 percent in 2011-12.

'Indian economy can grow between 8-9 percent through augmentation of domestic demand, but for the economy to grow beyond 9 percent, we need a overall world environment to be favourable,' he said.