Business

Barclays CEO Jes Staley Describes India As An ' Island Of Calm'

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| July 25 , 2016 , 13:50 IST
Barclays CEO Jes Staley Describes India As An ' Island Of Calm'Lauding Prime Minister Narendra Modi's policies, CEO of Barclays Jes Staley on Monday described India as an 'Island Of Calm'. While speaking with ET, Staley said "I am a buyer (of India). Economic prospects in India are very favourable, it is an island of calm in a world beset by turbulence." "The government is working very hard to change laws so that India restructures itself to provide economic growth. India is not a developing country dependent on commodities almost uniquely. In fact, it's one of the countries which benefits when commodities get cheaper. That I think is a very positive sign," he added. Barclays is one of Britain's biggest bank, Staley took over it as chief executive officers in December last year.