Dilip G Piramal, chairman of VIP Industries, spoke to CNBC-TV18 about the company's business plans and growth prospects.

"We will grow net profit at 32 percent CAGR over the next 5 years," Piramal said.

“In the last two years Indian economy is doing quite well and we were positively impacted by demonetization as well as the goods and services tax (GST),” he said.

On the business front, Piramal said that,"The rupee weakening won't impact Chinese imports as yuan has weakened too. Dollar appreciation towards yuan is positive for us".

Talking about the rices increase, Piramal said, “On an average it’s not more than 3-4 percent a year.”