Domestic consumption is cushioning Indian economy against global slowdown: Ajay Banga

World Bank chief Ajay Banga on Wednesday said that the domestic consumption is cushioning the Indian economy against a global on-going slowdown.

Talking to reporters after meeting Union Finance Minister Nirmala Sitharaman, Banga said he discussed issues related to G20 and cooperation between the World Bank and India.

"India cushioned by domestic consumption despite global slowdown," PTI quoted him as saying.


India-born Banga is here to attend the meetings of the G20 being held under India's presidency.

Banga further said he also talked about the issues being taken up at G20.

"India is the largest market for the World Bank in terms of our portfolio. There is a lot of interest here," he said.

On world economy outlook, the World Bank President said there is more risk on the downside in terms of a slowdown in the early part of next year.

(With inputs from PTI)