Brookfield will invest more in range of India opportunities: Mark Carney
Brookfield is looking to grow its $25-billion asset portfolio in the country further, said former central banker Mark Carney, also the UN Special Envoy for climate action and finance. The chair of Brookfield Asset Management and head of transition investing at the firm told Deepshikha Sikarwar & Vinay Pandey in an interview that India has a big opportunity amid global supply chain disruptions. Edited excerpts:
The US Federal Reserve chairman has made it clear the central bank is not done with containing inflation. What is your reading of Jerome Powell's statement?
My reading of what he emphasised is that the Fed's policy is going to continue to be restrictive for some time.
It's clearly restricted now and is going to need to continue to be restricted. He emphasised rightly that they're going to look at the totality of the data in making their decisions.
Strong Rationale for Supply Chain Being in India
(Powell) wasn't making a pre-announcement of the decision, nor should he, but he's clearly signalling as is appropriate. The policy needs to continue to be restricted for a period of time in order for them to meet their mandate.
What does it mean for the financial markets and emerging economies such as India?
Whether it's an emerging economy, one of the most important economies in the world, India, or the US' neighbour, Canada — what we both need is price stability in the US.
We need the Fed to do its job and the Fed is doing its job.
How fast is the global supply chain disruption happening and does India have an opportunity there?
The short answer is yes. And then the second part of the answer is that we expect to see a lot more. I distinguish between marginal decisions.
