India can lead global dialogue on ‘rethinking’ economy after Covid-19 crisis: Raghuram Rajan tells Rahul Gandhi
Gandhi asked Rajan if there will be any strategic changes after the coronavirus pandemic which India could use to its advantage.Updated: Apr 30, 2020 10:35 IST
In an interaction on Thursday, Congress leader Rahul Gandhi and former RBI governor Raghuram Rajan discussed the many aspects of the coronavirus crisis that plagues the world and has gripped the country.
Former Congress chief Rahul Gandhi said people’s minds are full of questions around the ongoing coronavirus crisis and what is going to happen with the economy.
“I thought an interesting way to answer some of those questions would be to have a conversation with you,” the Congress leader said.
In one of his questions, Gandhi asked if there will be any strategic changes after the coronavirus pandemic which India could use to its advantage.
Rajan said that incidents like the Covid-19 pandemic rarely have any positive results for any country. However, the crisis will enable a “rethinking of everything in the global economy”.
“India can assume the leadership role in shaping that dialogue, to be a leader in that dialogue,” Rajan said.
“There will have to be a rethinking of everything in the global economy once we are out of this. If there is an opportunity for India, it is in shaping that dialogue and in being the leader in that dialogue. India is not one of the warring parties but a country big enough to have its voice heard in the global economy,” the ex-RBI governor told Gandhi.
Rajan also said that going for a second or third lockdown to check the spread of coronavirus disease (Covid-19) will be devastating for the country’s economy.
“Second or third lockdown will be devastating. It does diminish our credibility. We don’t have to aim for 100 per cent success - it is not possible too - we have to manage the reopening,” Dr Rajan stated.
The dialogue with Rajan was first in the series that Gandhi plans to hold with public intellectuals. The session was pre-recorded and shared on Congress party’s social mediums.