“But I do think if the international fora are not responsive, both in terms of quotas but also in terms of hearing and allowing to the agenda to be set by more emerging markets, you will see a drift away towards more regional groupings, which would be unfortunate”, he said.
Rajan abandoned a high-flying career as a global economist two years ago to return to India as the chief economic adviser to the Indian government. It was then facing a sharp downturn in growth and looking for a growth strategy before this year’s elections, which the Congress Party-led Coalition government is expected to lose.