Winning Bizness Desk

Mumbai. In the ongoing World Economic Forum in Davos, International Monetary Fund (IMF) Chief Economist Gita Gopinath has said that not only India but the whole world is troubled by inflation. India's situation is still better, while some countries are facing the threat of recession. Gopinath said that although the Consumer Based Retail Inflation Index (CPI) has increased for the third consecutive month in India, but the situation in India is better than other countries. The financial condition of India is also better than other countries. IMF's first deputy MD Gopinath said that technically recession can happen in many countries, but India need not be afraid of it.

India has sufficient foreign exchange reserves

The Chief Economist of IMF says that India has enough foreign exchange reserves. Other tax collections including GST have also been excellent. The foreign exchange reserves of about $ 600 billion with the RBI are sufficient to handle any emergency. In such a situation, India has enough resources to fight inflation and recession, which differentiates its situation from other countries.

Inflation is getting severe

Commerce Minister Piyush Goyal sought the support of the corporate world from the platform of Davos. He said that the inflation situation in the country is getting serious and the corporate world should support the government in overcoming this challenge. The government and RBI are currently taking policy decisions to fight inflation, but increasing interest rates will affect the growth rate. Therefore, the corporate world should support the government in this.

What IT companies have to say ?

Regarding the future of the IT sector, companies like Infosys and HCL say that there is a lot of potential for the IT sector in India going forward. Infosys MD Salil Parekh said that the focus of big companies is on digitization right now and the pace of demand in the country is also better. C Vijayakumar, CEO, HCL Tech said that the demand for IT sector in India is good and companies are focusing on digital growth.