India will lead global economy going forward, says former CEA KV Subramaninan

Former chief economic adviser KV Subramanian, who is set to take charge as the executive director for India at IMF has said a glance at the GDP numbers would indicate that the Indian economy has seen a V-shaped recovery.

In an exclusive conversation with CNBC-TV18's Latha Venkatesh, he said India will be leading the global economy going forward.

Subramanian said when I look back at the data clearly, GDP growth has registered the V-shaped recovery that was predicted in September of 2020, "Combined with that, I think what is quite critical, and that goes back to the policy that we implemented the macro and fiscal policy we implemented, you're going to have growth without actually the kind of inflation that the rest of the globe is seeing."

"The global economy is basically looking like one that will have very anaemic growth, possibly in a recession, and very high inflation. In contrast, India will be the country that will grow the fastest among the large economies, for sure, and will have inflation that actually will be in control," he added.

Subramanian believes that the impact of global economy on India is overblown, "We are far more immunised and I don't think we will be impacted by the global situation as we were possibly due to the global financial crisis, for instance."