Shaktikanta Das, the governor of Reserve Bank of India (RBI), while speaking at World Economic Forum Davos 2024 said that International confidence in India is at an all-time high and confidence among investors is growing.There is growing confidence on India and I think the international confidence on India is perhaps at an all-time high, Das told ANI, on the sidelines of the ongoing World Economic Forum in Davos, Switzerland.#WATCH | Davos, Switzerland | RBI Governor Shaktikanta Das says, ...There is growing confidence on India and I think the international confidence on India is perhaps at an all-time high.He also says, I said that for the current FY, RBIs growth projection was 7%. The NSO… pic.twitter.com/cePDmbKBVo— ANI (@ANI) January 17, 2024Regarding the Reserve Bank of Indias growth forecast for 2023–2024 and the National Statistical Offices ensuing growth predictions, the latter was higher than the RBIs estimate, Das said, So, when we said 7 per cent for the current year, there were a lot of opinions outside that the RBI is over projecting.The Reserve Bank of India (RBI) during its December monetary policy review meeting raised its growth forecast for the current financial year by 50 basis points to 7 per cent from an earlier estimate of 6.5 per cent,” he added.It is to be noted here that the National Statistics Office in its first advance estimates projected the countrys economy to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy.#WATCH | Davos, Switzerland | RBI Governor Shaktikanta Das says, ...There is growing confidence on India and I think the international confidence on India is perhaps at an all-time high.He also says, I said that for the current FY, RBIs growth projection was 7%. The NSO… pic.twitter.com/cePDmbKBVo— ANI (@ANI) January 17, 2024He added, I said that for the current FY, RBIs growth projection was 7%. The NSO (National Statistics Office) has said 7.3%. So, when we said 7% for the current year, there were a lot of opinions outside that the RBI is overprojecting. But in reality, the NSO has said 7.3% for the current year and for FY 2024-25, what I mentioned is that my sense is that Indias GDP growth will touch 7%.On the rising prowess of Indias Fintech sector, the RBI Governor praised the tremendous improvement in the Fintech ecosystem in India, with the adoption rate of Fintech in India rising to 87 per cent which is well above the global average of 67 per cent. Indias Fintech market is projected to reach USD 150 billion by 2025, a significant leap from USD 50 billion in 2021, he added.
