International confidence in India at all-time high: RBI Governor at Davos

International confidence in India at all-time high: RBI Governor at Davos International confidence in India is at an all-time high and confidence among investors is growing, said Reserve Bank of India (RBI) Governor Shaktikanta Das. “There is growing confidence on India and I think the international confidence on India is perhaps at an all-time high,” Das said, on the sidelines of the ongoing World Economic Forum in Davos, Switzerland. Speaking about RBI’s growth projection for India for 2023-24 and subsequent growth estimates put out by the National Statistical Office, the latter pegged higher than that of what RBI did, Das said, “So, when we said 7 per cent for the current year, there were a lot of opinions outside that the RBI is overprojecting.” 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. The National Statistics Office in its first advance estimates projected the country’s economy to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy. “I said that for the current financial year, RBI’s growth projection was 7 per cent. The NSO (National Statistics Office) has said 7.3 per cent. So, when we said 7 per cent 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 per cent for the current year and for FY 2024-25, what I mentioned is that my sense is that India’s GDP growth will touch 7 per cent,” Das said. India’s economic activity has sustained its strong momentum with both urban and rural demand supporting growth. The strong thrust by the government on capital expenditure coupled with signs of pick up in private investment and healthy aggregate demand conditions, are expected to lift the real GDP growth, Das earlier said at a Luncheon Session organized by Confederation of Indian Industry on the topic ‘High Growth, Lo