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ICICI Bank CEO Says Worst is Over For India

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After India’s growth rate halved over the past few years, the worst is finally over, says Chanda Kochhar, chief executive officer of ICICI Bank – the country’s largest private sector bank.

“The worst is over…export-oriented companies are doing better because of the adjustment in the rupee. We brought a lot of control on our current account deficit (and) the government is quite focused on [controlling] the fiscal deficit,” Kochhar said on CNBC’s Managing Asia.

“All of those things have meant that we’ve brought the slide down to an end,” she added.

However, the recovery in Asia’s third largest economy will be slow and gradual, says Kochhar, and will largely depend on a revival in investments.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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