NEW DELHI: The domestic stock market might have wiped out its entire gains made in 2015, but foreign institutional investors (FIIs) remain confident on the India story and still see it as one of the most sought-out destinations in the emerging markets (EMs) basket, global brokerage firm CLSA said in a note. Most international investors at the CLSA Investors' Forum (IF15) in Hong Kong last week agreed that India is one of the very few structural growth stories and is among the most favoured nations.
Pramit Jhaveri, as chief executive of Citigroup in India, has a ringside view of both Indian corporates and global investors. In an interview with ET's MC Govardhana Rangan and Joel Rebello, Jhaveri tells what's in store for the economy, banking and how Prime Minister Narendra Modi's government has performed. Edited excerpts: Do you think the Parliament session could see some reforms, which some say are stalled? I do not subscribe to the theory that no reforms have taken place. I believe that an extraordinary amount has already taken place over the last 18 months.
SHANGHAI: Indian economy will eventually touch double digit growth rate despite bottlenecks like the stalemate over Goods and Services Tax (GST) as it has conducive conditions, eminent banker and President of BRICS New Development Bank KV Kamath said today. "I am wearing a different hat. I will talk wearing that hat. India is one of outlier in what is happening around the world. In economic context we are stable. We have both the deficits under control," he said, commenting on the economic survey which predicted 7 to 7.5 per cent growth this year.
WASHINGTON: Stating that India's growth will benefit from recent policy reforms, a consequent pickup in investment, and lower commodity prices, the IMF today projected a 7.5 per cent growth rate for India in 2016, against China's 6.3 per cent. However for the current 2015 year, the IMF has projected 7.3 percent growth rate, which is 0.2 per cent less than its projection made for the year in July.
NEW DELHI: Comparing China with India or vice versa is like comparing a pumpkin with an apple. China is a huge $10 trillion economy, while India is about $2 trillion, and thus it does not look fair to compare the two. However, both the countries are in the BRICS grouping and it would be fair to see where the actual money flow is happening. Experts say the mammoth Chinese economy is showing signs of slowdown, while India appears to be in a sweet spot. "The world has changed. But change keeps happening.
NEW DELHI: With economic growth slowing to 7 per cent in the April-June quarter, India Inc said on Monday the subdued performance indicates that the cost of capital needs to come down, demanding a rate cut by RBI. "Both consumption and investment levers need a thrust. While the government stands committed to further the reforms agenda, we need to equally create conditions that provide capital at an affordable cost to our entrepreneurs. "We hope that RBI will usher in a deeper cut in policy rates in its September review of the monetary policy," Ficci President Jyotsna Suri stated.
NEW DELHI: The government is aiming to speed up economic growth to hit the double-digit mark quickly, but analysts are of the view that the Centre would have to break the political logjam to push growth in Asia's third largest economy. The government is looking for an 8%-10% per cent annual economic growth through supply-side measures to increase the capacity in India, rather than risk higher inflation by stimulating demand, Minister of State for Finance Jayant Sinha said on Thursday. "The growth trajectory for India is positive and the long-term story is undoubtedly good.