Deutsche Bank CEO Christian Sewing says India will emerge as a “shining star” of the global economy. Calling the country a major Asian powerhouse, Sewing said plenty of European nations see “a real opportunity” in India with respect to infrastructure investments.
“If I look around the world, India is a shining star. We want to invest and grow here,” he told Economic Times during an interview.
“India is for me the powerhouse in Asia. I was involved in building our credit centres here in Mumbai 15 to 20 years ago, so I’ve seen India developing over time – a development this country can be proud of. A lot of other countries, in particular from Europe, are looking at India and seeing a real opportunity, for example, with regards to infrastructure investments,” Deutsche Bank CEO Christian Sewing said in his interview with ET.
“Navigating the local operating environment does require experience, something we (Deutsche Bank) have honed over 42 years. The country is exactly on the right path,” he said.
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“When I talk to CEOs of German corporates, I hear a lot of praise for India. In fact, within the EU, Germany is India’s main trading partner and its sixth most important trading partner worldwide. If work is done to make sure that permissions to invest and to build factories can be even more accelerated, then investments will increase further,” Deutsche Bank CEO said.
Sewing added that central banks ought to prioritise addressing the problem of inflation which remains a major risk factor which could compromise countries’ growth prospects for a few quarters or even years.
“The quicker we fight inflation, the earlier we will come out of the recession,” the financial executive told ET.