India can defy global economic slowdown by continuing its reforms and “responsible” economic planning, Finance Minister Arun Jaitley said here today.
Giving his assessment on how India can tackle an uncertain global economy with headwinds from China and the US, Jaitley expressed confidence that the country will prove its resilience.
Stating that there is a mood of concern among the global leaders and other participants at the ongoing World Economic Forum (WEF) Annual Meeting here, Jaitley said India must carry on the structural reforms to once again defy the global slowdown.
“And if India continues its reforms and responsible economic planning, we can stand out.
“Indian economy in 2001, 2008 and 2015 has shown resilience to defy global slowdown and crisis. Today, we are better equipped to face that situation and show the resilience,” Jaitley told PTI in an interview.
It is absolutely clear in meetings of the global economic leaders in here that “the mood is one of concern because global economy is facing a lot of uncertainty”, he said.
“A lot of challenges have surfaced simultaneously. There is worry over China, though Chinese themselves have said that it is no longer possible for China to have a double digit growth and that they consider 7 per cent growth as their new normal. But there is still a lot of global worry about China,” he noted.