Davos 2024: A day of India's investment drive
Day Two of the annual meeting of the World Economic Forum in Davos was about Ukraine’s Zelenskyy and Chinese Premier Li, Day Three was a mixed treat, with Argentina’s new President Javier Milei getting more mileage at the event. European Central Bank president Christine Lagarde, IMF’s Kristalina Georgieva, and an address by French President Emmanuel Macron were also in focus for their star power.
For India, it was a day of closing mega agreements, with Maharashtra, Telangana and Karnataka expecting trillions of dollars worth of investments. Reserve Bank of India governor Shaktikanta Das drew attention to India’s growth story, while US secretary of state Antony Blinken patted India for ‘an extraordinary success story’.
The Indian economy should record a growth rate of 7% in the next fiscal year and inflation is likely to ease further, RBI fovernor Shaktikanta Das said at a CII session in WEF. He said that amid a challenging global macroeconomic environment, India presented a picture of growth and stability.
Das said he expects average CPI inflation next year to be at 4.5%, and that RBI is committed and confident of achieving its 4% target at the earliest. Talking about how the US look at India, US Secretary of State Antony Blinken said, "We see an extraordinary success story and see the remarkable achievements that Prime Minister Modi has achieved under his watch that has materially benefitted and positively affected so many Indian lives." "We also see the relationship between our two countries that has reached a new place and a new level and that I think has been a very deliberate effort on part of both Prime Minister Modi and President Biden to position it so," he added.
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