January 18, 2023
1 min read

India should leverage G20 presidency, says Raghuram Rajan

He also pointed out towards possible risks for India economy due to opening up of China. India is doing well in service export, the former RBI Governor said…reports Asian Lite News

Former RBI Governor Raghuram Rajan has advised that India should leverage it’s G20 presidency to seek greater openness towards service exports.

In a television interview during the ongoing World Economic Forum (WEF) meeting at Davos, Rajan said that too much investment is going towards chip making globally, which could lead to a glut.

He also pointed out towards possible risks for India economy due to opening up of China. India is doing well in service export, the former RBI Governor said.

He added that if India could use its G20 presidency to push for greater openness towards service exports, it could help push India’s growth.

On the excessive focus towards investments in chips, Rajan said that the world doesn’t require so many chips and it shows a lack of trust between countries as everyone wants to secure themselves by focusing on domestic manufacturing.

On China’s reopening, he said that if it leads to global commodity prices edging up, then it could create problems for India as the current account deficit is already high.

He told the television channel that China is back pedalling on some of the Covid policies just to stabilise its economy.

“From India’s perspective we would like commodity prices to be lower. Right now, the guess is as China comes up, commodity prices will go higher. And that will be a problem for India which is already running a fairly significant current account deficit. The price of oil plays an important role. But I think if commodity prices stay lower, then to some extent some of our inflationary issues become less important than they are. Our core inflation is still something to worry about,” he was quoted as saying in the interview.

ALSO READ-University Connect program to spread info on India’s G20 presidency

Previous Story

University Connect program to spread info on India’s G20 presidency

Next Story

Manish Tiwari gets ‘Freedom of the City of London’ title

Latest from -Top News

UNSC Grills Pakistan Over Pahalgam Attack

Though Pakistan claimed that the meeting largely served and achieved the objectives of the UNSC’s meeting, reports showed that it flopped miserably…reports Asian Lite News The United Nations Security Council (UNSC) reportedly

Pakistan’s Terror Link “No Secret”: Bilawal Bhutto

Zardari stated that Pakistan’s intelligence services have since changed course and no longer collaborate with extremist elements..reports Asian Lite News Bilawal Bhutto Zardari, former Foreign Minister of Pakistan, has openly acknowledged Pakistan’s

Islamists Rise Under Yunus Rule

After the departure of former Prime Minister Sheikh Hasina in August 2024, Islamic parties in Bangladesh, crushed for years by the Awami League government, have made inroads into the political arena…writes Baidya

TIES WITH CHINA: Is Bangladesh Going Lanka Way?

Plans for nine Special Economic Zones, including Chinese-developed sites in Chattogram and Chandpur, promise jobs but risk creating enclaves where Beijing’s economic priorities overshadow Bangladesh’s….reports Asian Lite News On a humid March
Go toTop

Don't Miss

Goa steps up G20 preparations

Health and security of the G20 delegates are under focus

India-Middle East-Europe mega corridor deal at G20

This is a historic and first-of-its-kind initiative on cooperation on