NEW DELHI: Global headwinds are likely to slow down India’s GDP growth, but the country is more resilient than many large economies, HDFC chairman Deepak Parekh said on Saturday. Speaking at SPJIMR’s Centre for Family Business and Entrepreneurship event, Parekh said India has enough tailwinds with political stability, vaccine and food security, a domestic consumption-based economy, digitisation initiatives and a robust regulatory system for financial sector.
“India is not immune to the global shocks but has proved to be more resilient than many large economies. India’s GDP growth will slow down due to global headwinds,” he said. For start-ups, he said, “many investors still have plenty of dry powder for good, innovative ideas, but the days of cash burn and high valuations are behind us”.