More states will allow FDI in retail in time to come: Godrej

"I think some of the steps which have been taken are growth oriented and whatever it takes to bring the GST earlier," Godrej said.

He added that bringing in GST earlier would be a tremendous boost to the Indian economy.

When asked about his views on the Land Acquisition Bill, Godrej said that the bill should be fair and just for all stakeholders.

"It should be fair on both sides. It should not be either too much in favour of government and industry in land acquisitions and it shouldn't be in favour of farmers either.

It should be a balanced bill. I think that's quite possible," Godrej said.

He added that that many of the industry's suggestions have been incorporated in the bill and still there is discussion going on.

"I do hope that ultimately it will be a fair and just bill," Godrej said.