RBI: India is growing rapidly, American companies should invest; Governor said – growth rate will be 6.5% in the current financial year
New Delhi| India remains the fastest growing major economy due to policy stability. In such a situation, American industry should invest in India. RBI Governor Sanjay Malhotra said, despite global uncertainty, India could grow at 6.5 per cent in the current financial year. Almost all sectors have been opened up to 100 per cent FDI. Speaking at an event of the Confederation of Indian Industry (CII) and the US-India Strategic Partnership Forum, Malhotra said, while many advanced economies are facing challenges, India is providing stability. This has made it a better option for investors looking for long-term value and opportunity.
Financial sector strong
Malhotra said, India’s financial sector is strong and vibrant, which efficiently meets the funding needs of various economic sectors. The banking sector has been meeting the major needs of the economy. It has demonstrated flexibility with a healthy ledger.
India is also a partner in prosperity
The Governor said, India is also a partner in prosperity. We have an opportunity to shape a global future. I invite you to be a part of this journey, innovate and invest in India.
The average growth rate was 8.2 per cent in four years
The Governor said, the Indian economy has demonstrated remarkable resilience and dynamism. In four years (2021-22 to 2024-25), the country has achieved an average annual growth rate of 8.2 per cent. This is even higher than the average growth rate of 6.6 per cent in the last decade (2010 to 2019). However, the growth rate of 6.5 per cent is lower than India’s aspirations.
India ranks third in terms of purchasing power
In the last 10 years, India has jumped from the 10th largest economy to fifth place, Malhotra said. India already ranks third in terms of purchasing power. The Governor said, even on the basis of nominal GDP, we are soon moving towards becoming the third largest economy. We will complete 100 years of our independence in 2047 and aspire to become a developed India at that time.
