India Shows Determination

21 June 2012 16:30 - Phoebe Robinson

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India Shows Determination


Prime Minister Manmohan Singh is showing great determination to get the country’s recovery to speed up and ensure higher growth. He seems keen to send a direct message to “impatient” citizens, global investors and rating agencies that India will resume reforms and ensure higher growth with an economic plan that will restore confidence back into the Indian economy.

At the G20 Summit the PM pledged $10 billion to the International Monetary Fund (IMF) to help the Eurozone nations out of their crisis. He also made the point that although the world may think that 6.9% growth the Indian economy experienced in the previous fiscal year, he was not convinced  and is hoping for the country to expand at a faster rate.

In order for this to happen the PM outlined some of his potential policies, “Our policies will be transparent, stable and designed to provide a level playing field to both domestic and foreign investors.”

It has been put forward that the generous pledge of $10bn to the IMF was for India a way of showing that the Indian economy was resilient and that India could afford such contributions. 

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