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00:00short term events but in long term Indian economy remains the most attractive economy
00:07in the world.
00:10Dr. Raghuram G. Rajan Our key findings are based on the five robust macroeconomic parameters
00:18GDP, exports, savings, investments and debt to GDP ratio.
00:25We have compared these macro indicators in the top ten economies that how India is performing
00:31in the global growth trajectory, in the global ecosystem and we find out that India is the
00:40number one economy considering all these five parameters followed by China.
00:47As India is performing very well in the GDP, India is at the top of the growth of GDP and
00:56investments are also becoming robust as India has already completed one trillion dollar
01:00FDIs, cumulative FDIs in the last 24 years starting from 2000.
01:07Then savings are also robust at 32% of GDP.
01:13Then the debt to GDP ratio which is very crucial factor for many economies, debt to GDP ratio
01:19is also very well managed by the Indian economy, by the Indian government as we are at number
01:28two in the top ten economies after Germany.
01:32So overall scenario is very bright and India will remain a bright spot in the global ecosystem
01:38supported by high growth of GDP and robust scenario in the investments and savings and
01:48better managed financials.
01:50Dr. Raghuram G. Rajan
01:57I think we are not weakening in any macroeconomic or economic segment, these are because of
02:05the global factors, global headwinds like the geopolitical developments are deepening
02:11and there is some policy perspective change in the advanced economies particularly in
02:15US.
02:16So that is why markets throughout the world are volatile and that is the case of the Indian
02:23economy and going forward we are expecting that markets will again become robust as we
02:29have great fundamentals, we have a great growth story to tell the people, to tell the investors
02:34as we are growing significantly and we are the growth leader among the advanced emerging
02:39countries.
02:40Dr. Raghuram G. Rajan
02:44I think because of the volatility in the global ecosystem and particularly in the financial
02:49markets, rupee volatility will remain in the coming times too.
02:56What we do not rule out the scenario of rupee appreciating when the global economy stabilizes
03:05and the geopolitical developments are stable and that will be the scenario for the Indian
03:10economy that rupee becomes stable and deceleration stops because of this.
03:17Dr. Raghuram G. Rajan
03:24I do not see any level for the rupee because anything can happen as geopolitics is on the
03:36rise and policy perspective is also going to be change or shift in the coming times
03:43as new government is coming in US.
03:47So we do not see any level for the rupee but I think the policy environment, Reserve Bank
03:56of India and the government are doing a lot for the rupee stability and there will not
04:04be any worsening scenario for the rupee and that will be short-lived for the rupee scenario
04:13and rupee will stabilize.