London, All systems and events across the world are in favor of India at the moment and the confluence of various factors means that the economy is at a very favorable point of growth, senior economist Dr Surjit said here on Wednesday. Bhalla.
Addressing the India Global Forum (IMF) on the topic 'India's resilience amid global turmoil', former International Monetary Forum (IMF) Executive Director for India, Bangladesh, Sri Lanka and Bhutan, expressed confidence that India will continue on a successful growth trajectory in the next decade and beyond.
"We are in an ideal position not only politically but also economically and internationally," Bhalla said.
"The confluence of these three factors has never operated in India before. We are at a sweet spot and I am very confident that the government will make the most of it with policies that continue that sweet spot for at least the next decade," he said.
Pointing specifically to the government's Production Linked Incentives (PLI) scheme, the economist and author said his reading of the data shows that manufacturing in the country has "improved quite radically" in the last five to seven years.
"One policy that I think needs to be changed, as far as foreign investment is concerned, is that any dispute between a foreign company and an Indian company must be resolved in the Indian courts... I think it has hurt Indian companies as well as to manufacturing companies and So, apart from this policy, I think many of our policies lead to participate in a great leap forward,” he added.
The issue was broadly in line with the views of his fellow panellists, including Chris Rogers, head of supply chain research at S&P Global Market Intelligence, and Dr Vijay Chauthaiwale, head of the BJP's External Affairs Department, who They noted the recently concluded elections. in India as a key factor behind the country's promising growth trajectory amid “continuity and stability.”
"We have political uncertainties in several of the world's leading democracies, so we are delighted to see that the elections in India went as well as they did because that opens up opportunities for companies to be forward-thinking in their supply chains and build competitive advantages too,” Rogers said.
On India's Mission 2047, a member of Prime Minister Narendra Modi's Economic Advisory Council, Sanjeev Sanyal, highlighted that the government's continued focus on supply-side reforms will ensure progress towards a developed economy.
"I am very positive that finally the economy has reached a critical mass, where a composite process is now going to swing in our favor massively," Sanyal said.
IGF London, now in its sixth year, is a week-long series of events highlighting areas of collaboration and growth within the India-UK corridor.
Addressing the India Global Forum (IMF) on the topic 'India's resilience amid global turmoil', former International Monetary Forum (IMF) Executive Director for India, Bangladesh, Sri Lanka and Bhutan, expressed confidence that India will continue on a successful growth trajectory in the next decade and beyond.
"We are in an ideal position not only politically but also economically and internationally," Bhalla said.
"The confluence of these three factors has never operated in India before. We are at a sweet spot and I am very confident that the government will make the most of it with policies that continue that sweet spot for at least the next decade," he said.
Pointing specifically to the government's Production Linked Incentives (PLI) scheme, the economist and author said his reading of the data shows that manufacturing in the country has "improved quite radically" in the last five to seven years.
"One policy that I think needs to be changed, as far as foreign investment is concerned, is that any dispute between a foreign company and an Indian company must be resolved in the Indian courts... I think it has hurt Indian companies as well as to manufacturing companies and So, apart from this policy, I think many of our policies lead to participate in a great leap forward,” he added.
The issue was broadly in line with the views of his fellow panellists, including Chris Rogers, head of supply chain research at S&P Global Market Intelligence, and Dr Vijay Chauthaiwale, head of the BJP's External Affairs Department, who They noted the recently concluded elections. in India as a key factor behind the country's promising growth trajectory amid “continuity and stability.”
"We have political uncertainties in several of the world's leading democracies, so we are delighted to see that the elections in India went as well as they did because that opens up opportunities for companies to be forward-thinking in their supply chains and build competitive advantages too,” Rogers said.
On India's Mission 2047, a member of Prime Minister Narendra Modi's Economic Advisory Council, Sanjeev Sanyal, highlighted that the government's continued focus on supply-side reforms will ensure progress towards a developed economy.
"I am very positive that finally the economy has reached a critical mass, where a composite process is now going to swing in our favor massively," Sanyal said.
IGF London, now in its sixth year, is a week-long series of events highlighting areas of collaboration and growth within the India-UK corridor.
