Liberal Democracy Key To India’s Growth And To Win World’s Trust – Raghuram Rajan , Former RBI Governor

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India’s growth path lies in leveraging its intrinsic strengths and becoming crucial to global supply chains by building on its historic culture of tolerance and respect for all, former Reserve Bank of India governor Raghuram Rajan said .

He stressed that India has the potential to take a leadership role in the services industry and strengthening the country’s liberal democratic values was an economic necessity to earn the world’s trust in this endeavour.

With reference to competing with a cheap manufacturing neighbour like China, the former RBI Governor said India would benefit from focussing on the service component of manufacturing or services more directly as a trusted global supplier.

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