External Affairs Minister S Jaishankar rejected US President Joe Biden’s comment that “xenophobia” was hobbling the South Asian nation’s economic growth, The Economic Times reported on Saturday. Jaishankar said at a round table hosted by the newspaper on Friday that India’s economy “is not faltering” and that it has historically been a society that is very open. “That’s why we have the CAA (Citizenship Amendment Act), which is to open up doors for people who are in trouble… I think we should be open to people who have the need to come to India, who have a claim to come to India,” Jaishankar said. The International Monetary Fund (IMF) forecast last month that growth in Asia’s three largest economies would slow in 2024 from the previous year. The IMF also forecast that the U.S. economy would grow 2.7%, slightly brisker than its 2.5% rate last year.

Source: Indian Express May 04, 2024 20:44 UTC