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Economy

India could draw manufacturing from China, finance minister Jaitley says

TOKYO -- India's low levels of debt, its entrepreneurial, market-driven economy and competitive wages mean it is well-placed to become an engine of global economic growth and draw manufacturing away from China, Indian Finance Minister Arun Jaitley told the Nikkei Asian Review.

"If India continues to maintain its high growth trajectory, which I'm sure over the next few years it will, its potential to be a growth engine is real," Jaitley said in an interview during the 22nd International Conference on The Future of Asia, organized by Nikkei in Tokyo. Earlier, he said in a speech to the conference that the world is "looking for other shoulders to rest growth on" as China slowed.

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