Stock Market Update: Veteran global investor Mark Mobius said that the average growth rate of 6-7 percent in the country is a good rate considering the global level. He also said that India's ability to control inflation without contracting a high growth rate will be important in attracting continued foreign investment. Addressing an investor webinar, the veteran investor said that after reaching a size of about $ 4 trillion, the Indian economy grew well by 5.4 percent in the second quarter of FY 25.

A growth rate of 6 to 7 percent in India is quite good

Mobius, chairman of Mobius Emerging Opportunities, said that on a broad scale, a growth rate of 6 to 7 percent in India is quite good considering the global growth rate. Government's schemes like 'Make in India' to increase manufacturing at the local level are benefiting a lot. Mobius further said that the Government of India has done strong work in the infrastructure sector to support the growth rate.

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Mobius, despite political challenges, PM Modi's administration is focused on reducing inefficiencies, modernizing infrastructure and enhancing governance. The biggest challenge before the Center is to balance populist measures with long-term structural reforms. Apart from this, Mobius told about the areas where India is expanding both domestically and globally. This includes defense manufacturing, semiconductors, infrastructure and urbanization, energy and commodities and digital public infrastructure (DPI).

Mobius expressed a cautiously optimistic outlook for global and Indian economic trends, driven by both cyclical and structural factors. He said easing of the Russia-Ukraine conflict and easing of Middle East turmoil are expected to boost global growth.