Economists Divided on India's Reliance on Foreign Capital for Growth

Business Standard · business

Economists are divided on India's dependence on foreign capital for its growth ambitions, with discussions held at the Business Standard BFSI Insight Summit in Mumbai. Aastha Gudwani of Barclays argued that achieving developed economy status by 2047 is impossible without foreign financial inflows, which also help stabilize the currency. Conversely, Sonal Varma of Nomura and Samiran Chakraborty of Citibank believe India must reduce its reliance on foreign funds due to global geopolitical tensions and financial volatility.