No one has been appointed with this sort of profile.” “There’s a lot of interest in what he will have to say because no one knows just what he meant when he said what he said about tapering. He will be closely questioned”, the G20 delegate said off the record. Not surprisingly, Rajan is a determined champion for the Indian economy.
He urges Australian companies which fear perceived corruption and heavy-handed Indian bureaucracy to learn from the experiences of Western companies that have stayed the course. “With risk comes return, and people have learnt how to make money in India”, he says. While he admits there are the usual difficulties that come with an emerging market, many of India’s states are supportive to new businesses.