Is Indian economy growing more than actually stated

Looks like it according to KV Kamath
The ex Chairman of ICICI Bank said in Bangalore that
"India is actually growing at 11%-12%. Kamath said the economic data used to compute growth rates are not accurate. As long as we don't have the right statistics, there is a question over the growth rate"
I believe the Indian economic figures are understated.We have a lot of unaccounted economic data involved no doubt in India.People tend to have unaccounted money which does not enter the calculations of the Indian GDP and it is actually higher than the actual statistical data by the Govt and it must be understated and never overstated.The Chinese has an history of overstating their growth and investment figures whereas the Indian govt seems to understate their FDI figures which a bemused foreign economist noted in his article in Financial Times.
India with a corporate top line growth of 20% must lead to a GDP growth greater than the present 8%.