India's projected 8.1 per cent GDP growth rate this year was "quite achievable" as investors' confidence had gone up substantially due to sustained economic reforms, a noted economist said on Monday.

"The 8.1 per cent growth rate was quite achievable. Due to the government's continuous focus on economic reforms, confidence of investors has gone up significantly," London School of Economics Director Howard Davies told PTI in New Delhi.

The 8.1 per cent growth rate was not only achievable but sustainable too provided economic reforms were continued on the same pace, he said, adding that reforms had been on the right track since long.

"India has come a long way in terms of reform measures. Earlier, it was one step forward, two steps backward. Now, investors are of the view that reform measures are irreversible," Davies said.

The growth rate was also dependent on the overall world economy. Buoyancy in the world economy would also help India achieve the targetted GDP growth rate.

Asked how to accelerate the rate of growth, the LSE director said that "by continuing with the reform process."