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India looks to domestic savings to enhance economy's potential
Savings rate hits a decade low of 31 per cent of GDP, making the country more vulnerable to fund outflows
Add BT as a preferred sourcePublished Mon, Aug 17, 2015 · 09:50 PM
Mumbai
WHILE Indian Prime Minister Narendra Modi has racked up thousands of air miles seeking to woo foreign investors, tapping funds at home is just as crucial.
India's savings rate is at a decade low of 31 per cent of gross domestic product, weighed down by sputtering growth and Asia's third-fastest inflation. Mr Modi needs to get it back up to 35 per cent of GDP to fulfil the nation's economic potential, according to HSBC Holdings plc.
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