India’s GDP Growth Numbers World-Beating, Nation Unlocking Its Efficiency: JP Morgan’s Asia-Pacific Chief

Nicolas Aguzin, chairman and chief executive officer, JP Morgan Asia-Pacific said that India has been riding a wave to unlock efficiency that originates from micro-economic models including those from newer sectors. India’s GDP growth numbers were described as ‘world-beating’.

In an interview to BloombergQuint, he was quoted saying, “India’s growth over eight per cent with relatively low inflation merits attention. Newer sectors that weren’t easy to track in the past are being considered. We don’t account for those efficiencies.”

He added that despite the impact of US-China trade war, India’s underlying economic structures stand solid even today. In India, we tend to overestimate the impact of inflation and underestimate the growth, he said.

He also emphasised on the fact that there is a need to hold trilateral talks between US, India and China to resolve the current tensions over trade.

As per the report, Aguzin commented that India overestimates inflation’s impact and under-estimates growth. He also stated that in the end, the numbers end up working out “pretty well”.