DBS’ focus on India

The #Development Bank of Singapore (#DBS) sees India as a key area to focus on this year, while anticipating uncertainties from the slowed down global growths.

Outlining prospects, opportunities and challenges, DBS chief executive officer #Piyush Gupta said “…#India and #Indonesia will be our big areas of focus in 2017.”

DBS has big expansion plans in India as well as Indonesia, two of the world’s fastest growing economies, with a slowdown in economic activities in #China and uncertainties, among others, created by President-elect #Donald Trump’s policies.

“The world will have to grapple with massive consequences behind technological disruption on jobs displacement, both blue-collar and white-collar workers.

“My own bet is that you will find a lot more entrepreneurship, or what people call the gig economy,” The Straits Times quoted Gupta as saying.

“It is likely that there will be a new wave of redistributive economics. Governments may prove inadequate to do this entirely under their own steam, and the private sector will have to play a meaningful role,” said Gupta.

Gupta cautioned about Trump’s policies, saying it will be a headache for Asian strategies and could result in heightened market volatility in the short-term.

“To navigate these uncertain times, we need to remain watchful and vigilant, as well as disciplined about costs and the risks we take,” he said. fii-news.com