India Now - page 8

“You are
making in
India, you
will make
for India and for the
outside world. It’s
not one against the
other... given that ex-
ports in a country are
always a fraction of
domestic production,
you are going to be
making for India.”
“India is
indeed a
bright spot
in the global
economy... economic
developments hold
much promise... India
has an opportunity to
become one of the
world’s most dynamic
“If you
have to
invest your
in the next 5–10
years, your choice is
the US, Europe and,
say, Asia and India...
I would rather have
money in India...”
a bright spot in the
Asia Pacific region in terms
of growth, global rating
agency Standard & Poor’s
latest report said, revising
the country’s growth forecast
to 7.9 per cent in 2016-17
and 8.2 per cent in the year
after. The report, which
came two days ahead of the
Union Budget, noted, “India
should be the Asia-Pacific
region’s bright spot.” The
agency said that India’s GDP
growth will rise to 7.9 per
cent in FY 2016, against its
previous estimate of 6.2 per
cent, and it will accelerate
further to 8.2 per cent in
FY 2017 as against 6.6
per cent estimated earlier.
Rising investment and low
oil prices are the catalytic
factors boosting the growth
India Bright Spot in Asia-Pacific,
says S&P
Bright spot in global
landscape, says IMF
estimate. The note said that
growth in the Asia-Pacific
region will be slightly lower,
but India’s “star is rising”.
In a more recent
development, International
Monetary Fund (IMF) said
that the Indian economy is
as the economy revives. The
positive policy actions of the
government have improved
confidence in the country
and coupled with lower
global oil prices, it will push
growth, the report said. IMF
Mission Chief for India Paul
Cashin was quoted as saying
in the media that there is
certainly no reason as to
why India can’t achieve 8%,
9% or even higher growth
rates going forward, helped
by the structural reforms
that are being implemented.
IMF also said that the
country is well placed to
deal with external shocks.
Cahin said, “GDP revisions
portray a more resilient
performance of the services
and manufacturing sectors of
the economy.”
Raghuram Rajan, Governor,
Reserve Bank of India
Christine Lagarde, Managing
Director, International Monetary Fund
Marc Faber, editor and publisher of
The Gloom, Boom & Doom Report reason
why India can’t
achieve 8%, 9%
or even higher
growth rates
the “bright spot in the global
landscape, becoming one
of the fastest-growing big
emerging market economies
in the world”, in a report on
February 13. It has forecast that
India’s growth will rise to 7.2
per cent in the current fiscal
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