Eavesdropper

Written by The Financial Express | Updated: Mar 1 2012, 02:03am hrs
Back to Hindu rate of growth

India is, with good reason, proud of its being able to rise from the old Hindu rate of growth of the 70s, 80s and 90s to about 9% in several years of the last decade. With growth now slipping to below 7%, a seminar in the capital by the Institute of South Asian Studies (ISAS is part of the National University of Singapore) had a discussion on precisely this. Talking about the drivers of economic growth, economist Bibek Debroy pointed out that, if you removed the impact of global trade, Indias growth rates are probably back to the old Hindu rate of growth days. Debroy said this in the context of India needing to figure out ways to increase its exports tempo.