Terming India as one of the few bright spots in the world, chief economic advisor Arvind Subramanian said the country’s economy is a precocious one.
Addressing the students of National Institute of Bank Management on 11th convocation, Subramanian said the international environment is relatively benign towards India. “We are oil-importing country and oil prices are down. It gives us a lot of room. And also in a deeper sense, I think if you look around the world, we are one of the few bright spots,” he said.
Noting that India is one of the few countries which export FDI, he said in 2012 the country exported more FDI than China. “India is one of those few countries exporting FDI. As share of GDP in 2012, India exported more FDI than China,” he said.