Raghuram Rajan is confident about India’s leap in production

RBI governor Raghuram Rajan has said that India is on the edge of a "leap in production," adding that the government's emphasis on infrastructure creation is not going waste.

"I think we are right for change. The emphasis of the government on infrastructure creation, improving logistics network, some of the private sector companies like Flipkart and Snapdeal are creating a huge change in warehousing, in logistics," the RBI governor said while talking to Singapore Deputy Prime Minister Tharman Shanmugaratnam and Business Standard Chairman TN Ninan.

They had met at the CII-organised Singapore Symposium 2016.

Rajan also stressed on the point that for the first time ever, India is standing close to power sufficiency. "I know the commentary on the fact that some demand is not being expressed. But we are close (to sufficiency) and given that we are using only 60 to 65% of the available capacity there is room for power production," he said.

He added that if businesses are allowed to find their own way, India could soon see a revolution. "That not planning too much the path that one has to go through, but instead create the kind of infrastructure the kind of business environment which will allow them to go where they desire to go," he said.

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