Dr. C.Rangarajan’s speech at IIMA Confluence 2013(Video)

Ahmedabad, 1 December 2013

On the second day of Indian Institute of Management(IIM) Ahmedabad’s Confluence 2013, a panel discussion was organized on the topic of ‘The Global Turmoil & The India Story.’

The discussion covered the effects that the global turmoil has had on India and factors internal and external to India that have constituted the India story in these volatile times.

Dr. C Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council, Former Member of the parliament and Ex- Governor of the RBI, spoke first. He outlined the causes of the global economic turmoil and went on to enumerate that it was factors such as price shocks, a configuration of economic and non-economic factors and issues such as the drought year in 2008 that contributed to the relative slowdown that India is facing. He also mentioned that the delay in completion of important infrastructure projects was adding to the slow growth. According to him, certain macroeconomic issues that needed to be tackled were taming of inflation, balance of payments and fiscal deficit. He emphasized that the crux was to accelerate growth rate, accelerate project completion and provide an environment for overall growth. As globalisation cannot be escaped, Dr.Rangarajan reiterated that “We need to create a situation where we can take full advantage of globalisation”.

Dr. Rangarajan’s address is presented above in a video.