India Needs Investment Desperately: IMF Chief Gita Gopinath
GUWAHATI: Gita Gopinath, Chief Economist of International Monetary Fund (IMF) said that India needs a lot of investment and it is important to encourage it on January 20, in reference to Jeff Bezos’s visit last week.
"India needs a lot of investment. It's important to encourage investment more broadly with the mandate of the country. We need to revive domestic investment in India. So I think the environment has to be created for greater investment because that's what will raise the capital stock and raise India's potential growth," Gopinath said.
Meanwhile, Union Commerce Minister Piyush Goyal said, “Bezos had done no great favours with the investment. They may have put in a billion dollars. But then if they make a loss of a billion dollars every year, then they jolly well have to finance those billion dollars. So it's not as if they are doing a great favour to India when they invest a billion dollars.”
In response to Gopinath’s statement, Congress leader P Chidambaram, took to his twitter account and said that Gopinath was one of the first to criricize demonetization and would now face attacks because of her remarks on the Indian economy.
IMF Chief Gita Gopinath