With rapid India growth, American companies should invest; RBI Governor said - growth rate will be 6.5% in the current financial year

India is the fastest-growing big economy because of policy stability. Under such a scenario, American industry needs to invest in India. India can grow at the level of 6.5 percent this financial year despite the world's uncertainty, said RBI Governor Sanjay Malhotra. Nearly all sectors have been opened to 100 percent FDI. Malhotra stated in the programme of the Confederation of Indian Industry (CII) and the US-India Strategic Partnership Forum that while most advanced world economies are facing challenges, India is bringing stability. It's a good alternative for investors on the lookout for long-term value and opportunity.

Malhotra said India's financial sector is strong and vibrant, which efficiently meets the funding needs of various economic sectors. The banking sector has been meeting the major needs of the economy. It has demonstrated resilience with healthy ledgers.

The governor said, India is also a partner in prosperity. We have an opportunity to shape the global future. I invite you to be a part of this journey, innovate, and invest in India.

The governor said the Indian economy has demonstrated remarkable resilience and dynamism. In four years (2021-22 to 2024-25), the country has achieved an average annual growth rate of 8.2 percent. This is also more than the average growth rate of 6.6 percent in the last decade (2010 to 2019). However, the growth rate of 6.5 percent is less than India's aspirations.

Malhotra said, in the last 10 years, India has jumped from the 10th largest economy to the fifth position. In terms of purchasing power, India is already third. The governor said, on the basis of nominal GDP, we are soon going to become the third-largest economy. We will complete 100 years of our independence in 2047 and aspire to become a developed India at that time.