India Economy

What They Said

| Updated on January 05, 2013 Published on January 05, 2013

2013 will be better than 2012. The global economy, I think, has improved specially in the US... China is growing faster. India has also started improving. So, except for, maybe Europe, rest of the world is trying to improve and it is good for the global economy.”

Infosys Executive Co-Chairman

S. Gopalakrishnan

“Central banks cannot fix economies by themselves. The Governments need to act too from the fiscal side and monetary and fiscal policies have to act in harmony.”

RBI Governor D. Subbarao

“The year ahead holds immense promise for the Indian biotech sector, which is at an inflection point.”

Biocon Chairman and Managing Director Kiran Mazumdar-Shaw

“The world has not sufficiently learnt the lessons from the devastating financial crisis in 2008.”

German Chancellor Angela Merkel

“This is a very tough time for telecom industry including us. But we see some expansion projects going on with Reliance Communications, Tata Teleservices and Idea Cellular. There is also the GSM contract from BSNL. So we are doing okay. But at the same time we are reducing costs. In the long-term, I believe we can ride out this tough time.”

ZTE Telecom India CEO Cui Liangjun

“In India, we have the potential (vis-a-vis shale gas)… It (shale gas) is an important source and potential of oil the world over.”

Oil Minister Veerappa Moily, on plans to place policy on exploitation of shale gas before the Cabinet

“Kingfisher has two years to renew its licence. They will still have to apply again and satisfy the regulator, apart from ensuring financial stability before being allowed to fly. If they do not fly again, there will be collateral damage.”

Civil Aviation Minister Ajit Singh

“It is a very high level of current account deficit. So far, we have had no problems in financing the current account deficit. The capital inflows, either though FDI or FII or ECB or NRI deposits, have been adequate to cover the current account deficit.”

Prime Minister’s Economic Advisory Council Chairman C. Rangarajan

“You are also aware of the extraordinary lengths to which the Government of Tamil Nadu has gone to ensure the smooth commissioning of the Atomic Power Project at Kudankulam. In return, I expect the Government of India to dedicate the entire power of 2,000 MW from this project on successful commissioning, to the State of Tamil Nadu.”

Tamil Nadu Chief Minister Jayalalithaa

“Our commitment to India is intact.”

Tata Group Chairman Cyrus Mistry

You (India) have a vast internal market. You should be able to grow at a reasonable rate given the right macro-economic push.”

Economics Nobel laureate

Prof Joseph Stiglitz

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