World Bank Chief Economist: Indian Economy Doing Well

In an interview with the Economic Times, Professor Kaushik Basu, chief economist of World Bank remarked, “If you look at the growth table of performance among big economies all over the world, India, today in our World Bank table, tops the chart and this has never happened before. So overall the economic situation is good.”

Kaushik Basu

Kaushik Basu

However, with the global scene taking a turn for the worst, he cautioned that reforms and policy vigilance was very important. “There are risks to global growth. It can slowdown more and if that happens it is bound to affect India because today no country is isolated. But the main sector where India has to pay a lot of attention is India’s export sector where India has not done well despite the fact that India is the fastest growing major economy in the world… and a lot of attention ought to get this back again to full steam.”

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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.

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