The Indian economy is rallying, while the other two members of the BRIC bloc, Russia and Brazil, are facing significant headwinds to growth. Still on the international front, there are dark clouds gathering. These clouds coming from the United States are bringing murky conditions associated with normalization of US monetary policy.
Whatever the outcome and wherever we may find ourselves next year this time, I believe a lot of progress has been made by policy makers around the world, and particularly within the G20, where there is greater cooperation and greater awareness and efforts made towards understanding the impacts of policy actions across countries, in particular the spill overs and feedback loops and therefore how this might influence not only individual countries but also the global growth trajectory.