Beijing, Nov 21: China’s pain of economic slowdown is India’s pain too, RBI Governor Raghuram Rajan said on Saturday.
This contradicts the government’s assertions that India will not be affected by deceleration of Chinese economy.
The Chinese slowdown is a concern for the whole world. There is a lower demand for some of our exports to China. But indirectly too, many of the countries are not exporting to China as much as they did and they are buying less from us, Rajan said in an interview with Hong Kong-based South China Morning Post.
“But India being a commodity importer, has been helped a bit by cheaper commodities. So the impact has not been as bad as it could have been. Still, on the whole, we have been adversely affected by the Chinese slowdown because China’s slowdown has impacted global growth and India is very well integrated into the global economy”, Rajan said.
Rajan was in Hong Kong on Friday to receive honorary doctorate awarded by the Hong University of Science and Technology.
