Delhi: Former RBI Governor Raghuram Rajan emphasized India's recent progress in infrastructure development but called for a focus on bolstering domestic production, employment, and creating a more business-friendly environment.

In a recent statement, former Reserve Bank of India Governor Raghuram Rajan highlighted India's achievements over the past decade, particularly in infrastructure.

While praising initiatives like Make in India, Rajan stressed the need for broader governmental efforts to facilitate smoother business operations and enhance trust in institutions such as Income Tax authorities.

He urged the government to pay closer attention to constructive criticism, noting that dismissing it entirely could hinder progress.

Rajan believes that by fostering a positive business climate and maintaining a growth rate of 7%, India could surpass Germany and Japan, positioning itself as the third-largest economy in the world within the next two to three years.

India's path to this milestone, according to Rajan, lies in continued reforms and careful policymaking, particularly in sectors that promote domestic production and job creation.