Indian economic growth prospects good: Deutsche Bank's Jain

Expecting economic growth in India to gain momentum by next year, Deutsche Bank's Indian-origin chief Anshu Jain says he is very positive about prospects going forward after the country braved a sluggish phase.

Jain, a Bachelor in Economics from Delhi University who went on to become Co-Chief Executive Officer of Germany-based global banking major Deutsche Bank, said he expects the upcoming Lok Sabha elections in India to be "particularly interesting" with a new entrant in the fray.

Asked about his views on India, Jain said the Indian economy was coming back from a difficult period and he is very constructive about its prospects.

"The twin deficits have been controlled, the rupee has stabilised and the Deutsche Bank has forecast Indian GDP growth to pick back up by the next year," he told PTI here on the sidelines of World Economic Forum (WEF) Annual Meeting.

Jain said, "Indian elections are as such always fun to observe and this looks particularly interesting."

"I am sure people living there would have a much better idea and understanding, but it is a complex race, from what I can see from

here with some new entrants out there and some changes in demographics, it will be very interesting to watch," he added.

Before joining Deutsche Bank, Jain was with erstwhile Merrill Lynch and he has also served on several working groups advising the Indian government on inward investments and the UK government on financial stability.

EDITORIAL OF THE DAY

  • Electricity generators sit on hundreds of gigawatts waiting for buyers

    Be it a Lok Sabha, Rajya Sabha or a state legislature poll, power — as in electricity — remains a major issue on which elections are won or lost.

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