Commenting on the economic crisis that’s un-stabling India’s overall growth, International Monetary Fund Chief, Kristalina Georgieva, has said that slowdown in India appears to be temporary and she expects it to gain momentum going ahead.
Speaking at the ongoing World Economic Forum in Davos, Kristalina said that declining trade tensions between the US and China and synchronised tax cuts will help India’s economy in the future.
Moreover, she also expressed concern over the slow 3.3% growth rate in the world economy.
“It is still sluggish growth. We want fiscal policies to be more aggressive and we want structural reforms and more dynamism,” the managing director of the International Monetary Fund (IMF) said.
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The Chief also revealed the new markets that she believes would be the hotspots for marketing activities.
“We had a downgrade in one large market India but we believe that’s temporary. We expect momentum to improve further going ahead. There are also some bright spots like Indonesia and Vietnam,” she noted.
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Notably, ongoing issues in India spooked comments from various barons that spoke at the event. Billionaire philanthropist George Soros, speaking about CAA, has criticised the Modi government of creating fear among the minorities.
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