India's growth potential above 7.5%, says its cenbank chief
SINGAPORE, Sept 13 (Reuters) -India's growth potential is 7.5% or more, the country's central bank chief said on Friday, which is a little above the bank's full-year forecast for 2024 of 7.2%.
"I think India's potential growth today ... is about seven-and-a-half-percent-plus," Reserve Bank of India Governor Shaktikanta Das said at the Bretton Woods Committee's annual Future of Finance Forum.
"This year, we expect at the end of the year to record 7.2%," he said, with slower growth in the first quarter mostly due to low government expenditure during the national election.
Das said India's merchandise export improvement was below expectation as external demand is not as robust as before, though he said services exports had picked up.
The forum was held in Singapore in partnership with Swiss bank UBS.
Reporting by Tom Westbrook; Editing by Muralikumar Anantharaman
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
