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US Experts Praise India's Growth, Call for Manufacturing Boost

US-based economists and business leaders have praised India's latest union budget for reinforcing strong growth momentum and sending positive trade and investment signals. Professor Steve Hanke highlighted India's projected real GDP growth as the fastest among major economies and linked it to Prime Minister Narendra Modi's popularity and policies. Gunjan Bagla, CEO of Amritt, welcomed increased infrastructure and defense spending but called for a more aggressive manufacturing push to compete with China. Experts emphasized that manufacturing can create millions of jobs and position India as a global manufacturing superpower.

Key Points: US Experts Back India's Growth, Urge Manufacturing Push

  • Budget reinforces India's strong growth momentum
  • IMF projects India as fastest-growing major economy
  • Experts urge sharper push on manufacturing competitiveness
  • Infrastructure and defense spending increases welcomed
  • Need to compete with China in manufacturing highlighted
2 min read

US experts back India's growth, urge manufacturing push

US economists and business leaders endorse India's budget and growth momentum, urging stronger manufacturing competitiveness to rival China and create jobs.

"It's no surprise that Modi is the most popular major politician in the world. - Steve Hanke"

Washington, Feb 2

The latest union budget reinforces India's strong growth momentum and sends positive signals on trade and investment, US-based economists and business leaders said Sunday, and urged a sharper push on manufacturing competitiveness.

Steve Hanke, professor of applied economics at Johns Hopkins University, said India's economic performance under Prime Minister Narendra Modi was no surprise.

"It's no surprise that Modi is the most popular major politician in the world," Hanke said.

He cited International Monetary Fund projections that estimate India's annual real GDP growth at about 6.45 per cent between 2025 and 2030, the fastest among major economies.

Hanke linked India's outlook to trade and growth-oriented policies, saying strong expansion would continue to attract global attention and capital.

Separately, Gunjan Bagla, CEO of Amritt, a US-India consultancy based in Los Angeles, said the budget represents an incremental step in the right direction from an international trade and investment perspective.

He said the nine percent increase in infrastructure investment would help foreign trade over time by improving logistics and connectivity.

Bagla also welcomed the 15 per cent increase in defence spending, saying it would enable India's armed services to be more prepared against threats, while noting that hardware vulnerabilities remain.

He said the budget's emphasis on manufacturing was positive but not ambitious enough.

"Indian manufacturers would have benefited from a more aggressive push across all sectors," Bagla said, adding that broader support would help Indian factories compete more effectively with China.

Bagla said Indian entrepreneurs have built remarkable companies over the past 20 years and that many more could emerge as global players with the right policy framework.

"Manufacturing can create hundreds of millions of jobs in India," he said.

He added that the global economy needs to see India not only as a fast-growing market but as a manufacturing superpower.

- IANS

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Reader Comments

S
Sarah B
As someone working in the export sector, the infrastructure push is very welcome. Better roads and ports directly impact our bottom line. Hope the execution matches the budget allocation.
V
Vikram M
I agree with Bagla ji's point. The budget is a step, but we need a giant leap. The global supply chain is shifting. We have a golden window to attract companies leaving China, but our policies need to be bolder and faster. Red tape is still a big issue.
P
Priya S
Good to see foreign recognition of our growth story. But the real test is on the ground. Are these investments reaching the small and medium enterprises? That's where the mass employment will come from. The budget must translate into easier loans and less compliance burden for MSMEs.
R
Rohit P
Defence spending increase is necessary. With the kind of neighbourhood we live in, being prepared is not an option, it's a must. Jai Hind!
M
Michael C
While the growth numbers are impressive, I hope the manufacturing push also focuses on sustainable and green technologies. The world is moving that way, and India can be a leader, not a follower, in this space.
K
Kavya N
Hundreds of millions of jobs in manufacturing sounds great, but are we skilling our youth

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