‘India today deserves a much more serious look’: RBI Governor Shaktikanta Das at Davos WEF 2024
Business Today. “There is no such thinking to move towards de-dollarisation... The dollar will continue to be the dominant currency", Shaktikanta Das added.
Inflation in India is moderating and steadily approaching the central bank's 4% target while growth prospects remain robust, Reserve Bank of India chief Shaktikanta Das said on the sidelines of the World Economic Forum. "Inflation has come under control and is within the band we have, which is 2% to 6%. Target is 4%," Das said in a fireside chat at Davos organised by Invest India.
Core inflation has started steadily coming down and gives confidence that monetary policy is working, he added. "RBI remains fully committed to bring inflation down to the target of 4%." Annual retail inflation rose the fastest in four months in December but core inflation, which strips out volatile food and energy prices, dropped to a four-year low of 3.8% to 3.89% from 4.05% to 4.2% in November. Das said India's economic growth prospects remain robust, noting signs of sustained growth momentum in coming years.
The reduction in exchange rate volatility in India in recent years has renewed investors' confidence in the economy, he added. RBI Governor said this is an opportune time for investors to invest in India, at the WEF summit in Davos, Switzerland. “India today deserves a much more serious look because of all that is happening.
The interest this time around in India is genuine. There is a lot of international confidence in India, the technology story built around India, the growth prospects of India and the stability, that is, the macroeconomic and financial sector stability that India offers," Indian Express quoted Shaktikanta Das. “India’s growth momentum will be maintained in the
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