1. Hype about India’s growth story worrisome; Raghuram Rajan’s exit news dented perception: Ruchir Sharma

Hype about India’s growth story worrisome; Raghuram Rajan’s exit news dented perception: Ruchir Sharma

Ruchir Sharma does not believe in India’s GDP growth rate. "This measure is incompetent and the hype about India’s growth story worrisome," he says.

By: | Published: June 28, 2016 12:55 PM
ruchir sharma, morgan stanley, india growth, raghuram rajan Ruchir Sharma of Morgan Stanley has said, “India has consistently disappointed both the optimists and the pessimists.” (AP Photo)

While acknowledging that India looks relatively better amongst peers, Ruchir Sharma of Morgan Stanley has said, “India has consistently disappointed both the optimists and the pessimists.”

In an interview to CNBC TV-18, Sharma said, “International investors have huge expectations from India. India is the highest recipient of FDI flows in the world.” “RBI governor Raghuram Rajan’s exit has dented the perception for India,” he added.

Sharma does not believe in India’s GDP growth rate. “This measure is incompetent and the hype about India’s growth story worrisome,” he says.

Sharma feels that the Indian economy is looking calmer now than it was in 2013, and adds that the Indian currency much more competitive now. “India looks cheaper than many other countries. Debt levels for India have not increased much. Manufacturing & private investments are yet to see a pick-up,” he said commenting on various economic indicators.

Talking about Brexit, Sharma says that Britain’s exit from European Union is a “big manifestation of post-2008 crisis.” However, he is not convinced that Brexit will cause a recession. “China has been a major worry in last one year,” he says.

On the issue of US Federal Reserve’s imminent rate hike in the coming months, Sharma says, “Markets have not factored in the US Fed rate hike forecast and they don’t Expect rate hike from US Fed in the immediate term.”

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top