Global economy
Premature to say India will replace China in influencing global economic growth, says Raghuram Rajan: Report
Former RBI governor Raghuram Rajan said on Tuesday it’s still too early to say that India will influence global economic growth, pushing China down the ladder, a media report said.
At present, India is a much smaller economy than China, he noted.
He, however, added that the situation may change in the future as India is already the world’s fifth largest economy, it is growing, and has the potential to expand further.
At a World Economic Forum (WEF) press briefing on the recently released Chief Economists Outlook.
Rajan said the Chinese economy will come out of the slump probably as early as March or April as its government is working its way out of the pandemic.
He emphasized that a turnaround in the Chinese economy would revive the global economy which most economists opined is headed for a recession.
Further, the end of the Ukraine War would certainly be an upside, he added.
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