“India seems to be star: S&P chief Economist”, Times of India, March 7, 2024:
“Paul Gruenwald, S&P’s global chief economist, keeps a close watch on economies around the world. In an interview with TOI he talks about India’s strong growth, the road map to a middle-income country and also about the global risks. Excerpts:How do you view growth numbers here in India?Emerging markets are growing faster than developed countries.
But, India seems to be the star.Now, it’s definitely past China in terms of growth rate, there’s some catching up to do. India is on a good path. We’ve got good investment, we’ve got good consumption, the external environment isn’t too bad, a lot of efficiency gains (are) going on. We have estimated 7.3% (growth) this year and 6.5% next fiscal, and, trend growth of 6.5-7%, which is quite good. Looks like we’re firing on all cylinders right now.
What are the risks that you see?The risk globally is one — we just had the fastest rise in interest rates in four decades. Every major central bank raised rates by 400 or 500 basis points. In some countries, those pass through very quickly and in other countries like the US, those pass through very slowly. We have maturity walls, we have resets of debts, we have changes in the demand for things like commercial real estate….”
Read the full article at Timesofindia.com
