He expects global growth to remain lukewarm with periodic shocks in the global market. Although he adds that he is positive on India and says it is very well insulated from global volitility.
There may be many difficulties across several sectors due to this move. But in the medium to long-term, India's economy will see a deflationary trend. The sudden ban on Rs 500 and Rs 1000 notes helps the government not only crack down on black money, but also counterfeiting of currency, says Shah.
