Thursday, Duvvuri Subbarao, Governor of Reserve Bank of India said global crisis will dent India's growth trajectory as investments and exports slow. There is a period of painful adjustment ahead and the challenge for the government and the RBI is to manage the adjustment with as little pain as possible, Subbarao added.
At the Confederation of Indian Industry's National Conference, governor said the outlook for India going forward is mixed. Considering other negative factors, he said growth will moderate more than their earlier estimate.
However, Subbarao stated, Once the global economy begins to recover, India's turn around will be sharper and swifter, backed by our strong fundamentals and the untapped growth potential.
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