Trichet Lauds India's Growth and Pushes for Rule-Based Trade

Jean-Claude Trichet, attending the Kautilya Economic Conclave, praised India's growth potential and investment allure. He emphasized the necessity of rule-based trade, aligning with global sentiment. With robust GDP forecasts and transformative reforms, India is set on a promising economic path amid universal calls for improvement.

Jean-Claude Trichet, the Governor of the Bank of France and former President of the European Central Bank, highlighted India's impressive economic growth potential and emphasized the significance of rule-based trade at the Kautilya Economic Conclave in New Delhi. Speaking to ANI, Trichet remarked on India's value as an investment hub, noting the crucial role of quality and volume in driving investments, particularly for rapidly developing and emerging nations.

Trichet compared India's growth trajectory with other countries, expressing confidence in India's ambition and workforce. He stated, "The ambition of India is to go even higher. The quality of the people is there." He continued, "When there is both the volume of investment, the ambition, and the human resources of such a great quality, the achievement of goals seems assured."

Currently ranking as the world's fourth-largest economy, India is projected to climb to third place by 2030 with a GDP of USD 7.3 trillion. This momentum is attributed to decisive governance, visionary reforms, and significant global engagement. Real GDP growth is anticipated to accelerate to 7.8% in Q1 FY 2025-26, fueled by strong domestic demand and policy reforms, marking India as a prime destination for global investment. Trichet also noted universal reform challenges, stating, "We all need improvement. India, my own country, Europe and the US." He stressed the importance of rule-based trade in addressing global economic challenges, emphasizing consensus on maintaining stability to avoid potential shocks.

(With inputs from agencies.)