RBI Assures US Inc On India Growth

At a time when many advanced economies are facing economic headwinds and a deteriorating economic outlook, India continues to offer strong growth and stability making it a natural choice for investors seeking long term value and opportunity -- Sanjay Malhotra, Governor, RBI

Washington: Reserve Bank Governor Sanjay Malhotra has exhorted the US industry to invest in India, stressing that the country continues to be the fastest growing major economy supported by policy consistency and certainty.

Addressing the US-India Economic Forum organised by the Confederation of Indian Industry (CII) and US India Strategic Partnership Forum (USISPF) here on Friday, Malhotra said that India is expected to record a growth rate of 6.5 per cent in the current financial year despite tremendous increase in uncertainty and volatility in global financial markets. “At a time when many advanced economies are facing economic headwinds and a deteriorating economic outlook, India continues to offer strong growth and stability making it a natural choice for investors seeking long-term value and opportunity,” the governor said.

India, he added, “continues to be an economy supported by stability -- monetary, financial and political; policy consistency and certainty; congenial business environment; and strong macroeconomic fundamentals.” Malhotra said that India offers a policy ecosystem that is transparent, rule-based, and forward-looking -- an ideal setting for long-term and productive investments.