India’s Growth Outlook remains Promising, despite Global Economic Volatility

Speaking at the CII Western Region’s Annual Meeting, Mr. Subir Gokarn, Deputy Governor, RBI talked about India’s high economic growth in the first decade of the new millennium which was a result of many factors. “Both global and domestic factors contributed to this growth. Overall the global economy grew at 4.5% and almost all countries reaped a windfall from the same. Good policies and benign oil prices led to a virtuous circle of low inflation and micro economic changes that supported and sustained growth performance. Growth in the telecom sector helped people stay connected, increased productivity thereby accelerating growth,” Mr. Gokarn said. ............

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