As per RBI Governor Raghuram Rajan, India will take all the required steps to emulate China’s growth rate. India is willing to learn the ever constructive growth policies of China.
During an interview with the Hong Kong-based South China Morning Post, the RBI Governor Raghuram Rajan has claimed that China’s economic pain is also India’s pain. Contradictory to what India’s Finance Minister Arun Jaitley has lately exclaimed, Rajan has clearly noted that India will be deeply affected by China’s economic slowdown. Arun Jaitley in a recent gathering at Columbia University said that India (that could serve the role of the additional shoulder) is not affected by the slowdown in Chinese supply chain. It is notable that the Chinese media was strictly affected by this declaration, drawing a conception that China’s pain is India’s gain.
What RBI Governor Raghuram Rajan has to say about the complete situation?
In an interview with the China’s Morning Post, Rajan said that Chinese slowdown is not a nation’s but a concern for the entire world. The shift in the export culture is directly or indirectly affecting the entire market. India, as a commodity importer, has been highly affected by cheaper commodities. Though the effect is not as bad as it could be, there is no denying that Indian market has been slightly shaken from the entire slowdown. While receiving the honorary doctorate award by the Hong University of Science and Technology, Rajan expressed his personal views on India’s ‘growing interdependence’ with China.
Following PM Modi’s constructive and friendly policies with neighboring nations, India is now stepping ahead to improve the relationship with other countries. Rajan emphasized that now the focus is on the east though the popular belief supports the west. The RBI Governor also suggested that India will learn from China’s economic policies, without blindly following it.