India's economic growth driven by domestic demand, need to focus on exports: WB
India's economic growth in recent years has been "too much" driven by domestic demand and its exports were about one third of its potential, a World Bank official said, asserting that the next government needs to focus on export-led growth.
Praising attempts to liberalize markets within India, Hans Timmer, World Bank Chief Economist for the South Asia Region said "that is what is needed to become more competitive." "At the same time you've seen also of the last couple of years that the current account deficit widened - an indication that increasingly growth came from the non-tradable sector -- from the domestic sector, and that makes it difficult to export more, Timmer told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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