Raghuram Rajan: Former Reserve Bank of India Governor Raghuram Rajan said India’s path to growth lies in leveraging its intrinsic strengths and building a historic culture of tolerance and respect for all for global supply chains. Raghuram Rajan said that India has the potential to become the world leader in the service sector.
Former RBI Governor Raghuram Rajan said that there was a need to strengthen the country’s liberal democratic values to win the trust of the world for India to play the role of a leader. He said that the government should take steps towards this.
Focus on these things for competition from China
Raghuram Rajan said that to compete with cheap manufacturing like China, India should focus on certain aspects. He said that there is a need to focus more on manufacturing or service as a reliable global supplier.
It is necessary to win the trust of the world
According to PTI, Rajan said that if we have to follow the path of manufacturing service-based development, then our independent judiciary, our liberal democracy can provide these benefits. Raghuram Rajan said that it is necessary internally to win the trust of the world. He said that we want democracy, but also want democracy to be able to assure the world that the world can trust.
Rajan told how to become a global leader
Raghuram Rajan said that the country’s focus should be on democracy and should look beyond the manufacturing of already existing things like chips. He said that if you produce 10,000 high-quality engineers in a year, we can emerge as a global leader in chip design.