India must be bold with reforms | Jim O'Neill To ET NOW
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"Would encourage Modi to take more risk on fiscal deficit. If it would help boost India’s long term growth potential…, India needs to have healthcare for 1.3 bn people rather than for privileged few. US markets are definitely not cheap any more but I do think that in the context of the emerging world so long as the Fed is accommodative and infections don’t pick up, probably the rally will be stronger for EMs, especially India. In order to be a serious competitor to China, India would have to have a much more organized & competitive labor market in manufacturing and whole supply chain. Going back to Indian policy response, it will require Modi to be a lot more bold about FDI rules and many things to do with the labor market, so the potential is definitely there because this crisis certainly weakening China’s role in global supply chain. US is losing its global dominance, and we have this country called China which has become big but we don’t know where it is ultimately going, if India undertook reforms in a major way, it would accelerate the relative position of India in the world in next 20 years", says Jim O'Neill. Listen in. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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