India Growing Robustly Says World Bank’s Kim

Predicting a strong global growth this year, World Bank president Jim Yong Kim said India has been growing “pretty robustly”.

Speaking at the Bloomberg Global Business Forum meeting in New York, Kim said, “A country like India is growing, has been growing pretty robustly. We think, Japan is growing. Europe is growing in a much more healthy way. The United States continues to grow. There is a leveling-out in developing countries.” In June, the World Bank predicted a 7.2% growth rate for India this year against 6.8% growth in 2016.

Economy chart

“Dormant capital will earn a higher return, where developing countries will have access to much more capital for the infrastructure needs, even for investing in health and education, investing in resilience to climate change and other factors,” he added.

He said in terms of indebtedness, the bank was watching very carefully the debt-to-GDP ratios of every single country, reports the Hindustan Times.

Be Sociable, Share!
Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

0 comments

There are no comments yet...

Kick things off by filling out the form below.

Leave a Comment

*