SINGAPORE, Sept 13 (Askume) – India’s central bank governor said on Friday that India has the economic growth potential of 7.5% or more, slightly higher than the bank’s full-year 2024 forecast of 7.2%.
“I think India’s current potential growth rate is much higher, at about 7.5 per cent,” Reserve Bank of India Governor Shaktikanta Das said at the Bretton Woods Committee’s annual Financial Futures Forum.
“This year, we expect record growth of 7.2% by the end of the year,” he said, adding that the slow growth in the first quarter was mainly due to lower government spending during the national election period.
Despite the rise in services exports, India’s merchandise exports are recovering at a slower pace than expected as external demand is not as strong as before, Das said.
The forum is held in Singapore in partnership with Swiss bank UBS.
