Jamshedpur, Mar 26 (PTI): Godrej Group chairman Adi Godrej today hailed demonetisation and the proposed GST bill, stating that believers in India's strong future outstripped its doubters.

Demonetisation helped checking black money, ensuring mid- and long-term growth while the GST, which would be implemented from July, would help achieve positive economic growth of the country, Godrej said.

Right policy and decision of the government was shaping the reform in right direction and enhancing growth rate, said the industrialist while speaking at the 61st Convocation of leading B-School XLRI School of Management.

Godrej, who was bestowed with Sir Jehangir Ghandy Medal for Social and Industrial Peace on the occasion, expressed confidence that the country would overtake US economy between 2030-40 and China by 2050 to emerge as economic super power of the world.

"I have always been and continued to be very optimistic about India's future especially with the election of a development-oriented government," Godrej said adding that now the number of believers in India's strong future outstripped that of doubters.

He said his confidence of bright future of India came from his belief in the country's demography, democracy and reform and growth-oriented mindset.

India, which has retained top spot on global consumer confidence index with 133 points in 2016, have been able to mitigate some of the negative consequences of global financial turmoil due to its large consumer market, he said.