Washington, Oct 7 (IANS) India is getting noticed by investors globally as it is opting for liberal reforms at a time when major economies are turning protectionist, Finance Minister Arun Jaitley said adding that it also has the best growth rate in the world.
“India stands out for two factors. Major economies are becoming protectionist like Britain which resulted in Brexit. India, on he contrary, is reforming step by step… And because India’s growth rate is best in the world,” Jaitley told NDTV in an interview here on Friday.
“We are getting noticed by all possible investors. Everyone does well when global economy is doing well. But the buzz is around India because it is doing well even during a global slowdown. That’s what makes India stand out,” he added.
The global situation still appears to be extremely challenging because of low oil price regime.
“Economies at 1-2 per cent GDP are at their best growth rate. It is Asian economies that are pulling up the global growth rate. Smaller economies like Bangladesh are doing well,” he said.
The Finance Minister said he has met up with British Ministers and post-Brexit they are trying to do well with other countries.
He said that the growth in India has become possible because of constant reforms.
“Reforms are not that difficult in India now. There is a Monetary Policy Committee for monetary policy, bankruptcy law, major steps on black money from benami law to Income Declaration Scheme,” he said.
“Goods and Services Tax bill got passed. The high point was it got passed unanimously,” he added.
Jaitley is on an official visit to the US to attend meetings of the International Monetary Fund and World Bank .