Posted 11/10/2023, 7:17:00 AM
India's Economy Growing but Faces Unemployment and Manufacturing Challenges, Says Former RBI Governor
- India's economy growing steadily but needs 8-8.5% growth to create enough jobs, says former RBI governor Raghuram Rajan
- High unemployment a concern for PM Modi as he seeks third term in 2019 elections
- India trying to move up value chain in manufacturing but has long way to go to make full cell phones domestically
- Growth being driven by higher infrastructure spending, balance sheet cleanup, demand from upper middle class
- US faces greater than 50% chance of slowdown going too far, soft landing very difficult