On Friday, McKisey CEO Bob Sternfels said “It is India‘s century, not India’s decade“. Bob Sternfels also said that India would be world’s future expertise manufacturing unit with 20% of global working population by 2047. He also advised India to not listen to obscure paid #Indians living abroad putting India down.
However, the economic experts who have been wanting and predicting recession for India for over a decade are now seeing Bob Sternfels’ statement as negative sign for India. Former Governor of the Reserve Bank of India, Raghuram Rajan has said that India not getting hit by recession like rest of the world will make India get cornered. Speaking to The Fauxy, Raghuram Rajan said “India must get hit by a recession to show inclusivity“.
In an article on India being cornered, Raghuram Rajan wrote the ways for India to remain inclusive and advised that a small recession hitting India won’t impact its economy but will avoid India getting cornered. Raghuram Rajan asked FM to keep CAD a little high and follow policies which were followed during UPA govt. He assured Indians of getting hit by recession which he’s been predicting from past 10 years.