Davos: India’s development prospects Very good, and from the country banking sector have seen one remarkable recoveryReserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday.
Speaking at a session here, Das said there is great confidence internationally in India and the macroeconomic and financial sector stability provided by the country.
He said, “…I think we really need to look back at the business opportunities in India. Because this is the right time to build in the Indian ecosystem.” He stressed that the country’s growth prospects are very good due to structural reasons. The improvements that have taken place in recent years.
He said that despite various shocks and crises, there has been remarkable improvement in the Indian banking sector.
“The Indian banking sector is probably at one of its best in recent years…the financial sector is very stable…the external sector is also stable despite global growth slowing…India’s services sector is growing,” he Said.
Pointing out that these factors are not one-off developments, Das gave the example of the regulatory architecture of public and private sector banks and NBFCs (non-banking financial companies).
“They are providing a basis for confidence in the pace of Indian development…” he said.
Earlier this month, the National Statistical Office (NSO) had projected the Indian economy to grow at 7.3 per cent in 2023-24, up from 7.2 per cent in the previous fiscal.
The annual meeting of the World Economic Forum (WEF) began here on Monday.
Speaking at a session here, Das said there is great confidence internationally in India and the macroeconomic and financial sector stability provided by the country.
He said, “…I think we really need to look back at the business opportunities in India. Because this is the right time to build in the Indian ecosystem.” He stressed that the country’s growth prospects are very good due to structural reasons. The improvements that have taken place in recent years.
He said that despite various shocks and crises, there has been remarkable improvement in the Indian banking sector.
“The Indian banking sector is probably at one of its best in recent years…the financial sector is very stable…the external sector is also stable despite global growth slowing…India’s services sector is growing,” he Said.
Pointing out that these factors are not one-off developments, Das gave the example of the regulatory architecture of public and private sector banks and NBFCs (non-banking financial companies).
“They are providing a basis for confidence in the pace of Indian development…” he said.
Earlier this month, the National Statistical Office (NSO) had projected the Indian economy to grow at 7.3 per cent in 2023-24, up from 7.2 per cent in the previous fiscal.
The annual meeting of the World Economic Forum (WEF) began here on Monday.
