New Delhi, Jan 19 (KNN) India should take advantage of its G20 presidency to strive for opening its service exports to the world, said Raghuram Rajan, the former Governor of Reserve Bank of India (RBI).

Rajan is of the opinion that excessive investment is going towards chip making globally which he warns could lead to a surplus.

“Opening up of China could also pose some risks towards the Indian economy,” he said in a television interview during the ongoing World Economic Forum (WEF) meeting at Davos

India is doing well in service export, the former RBI Governor said.

He added that if India could use its G20 presidency to push for greater openness towards service exports, it could help push India's growth.

Rajan said that excessive focus towards investments in chips shows a lack of trust between countries.

“The world doesn't require so many chips, everyone wants to secure themselves by focusing on domestic manufacturing,” he added.  (KNN Bureau)