Raghuram Rajan has been the most vocal RBI Governor's in recent memory, who has continued to share insights on government policies even after being replaced. Known for his comments on demonetisation and the recent appearance with opposition leader Rahul Gandhi during his Bharat Jodo Yatra, Rajan also shared his two cents on India's G20 Presidency. The ex-RBI chief advised the government to use India's G20 presidency as leverage to boost its service exports.
Rajan also added that that too much investment in semiconductor manufacturing on a global scale, can cause a glut. He pitched service exports as a driving force for India's growth, and advised the government to seek more openness for it.
While saying that the world doesn't need so many chips, Rajan added that too much manufacturing of the component shows that countries don't trust each other. He made the comments during an interview with a TV channel on the sidlines of the World Economic Forum in Davos, and also highlighted how China reopening can affect India's economy.
