“Worst is Over” for India – ICICI CEO

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.

CNBC

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