Confidence in India, hit in recent years by high inflation and a current account deficit, is returning, heralding better times ahead for Asia’s third-largest economy, the country’s tech industry leaders have told CNBC.
“The biggest thing about India is that in the last couple of years we had lost hope,” Wipro CEO T.K. Kurien said Wednesday on the sidelines of the World Economic Forum in the Swiss ski resort of Davos. “We had lost hope that anything would happen in India but that hope has come back and that is a huge positive,” he added.
In its latest projects for world economic growth, the International Monetary Fund on Tuesday forecast India’s economy would grow 6.3 percent this year. It expects that number to climb to 6.5 percent in 2016, overtaking economic growth in China which is forecast at 6.3 percent.
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