Carmine Di Sibio, CEO and chairman of Ernst & Young, joins "Squawk Box" at the World Economic Forum in Davos to discuss the broader look at the growth of the global economy.
EY global chairman and CEO Carmine Di Sibio said despite International Monetary Fund (IMF) downgraded India's GDP growth this week, numbers are still much higher than the US or Europe.
"So, from an EY perspective we are still going to heavily invest in India," Sibio told CNBC-TV18 on the sidelines of the World Economic Forum at Davos.
He said capital will move into India and for a lot of private equity firms, India is still very much at the top of their list.
"I think there is still value to be had, I think there is innovation, so I don't see a lot of that changing. However I do think India has to deal with some of the structural issues, liquidity and so forth but in terms of outside capital and particularly private equity, I am not hearing any pullback."
On outlook for global economy, Sibio said there is some optimism. IMF growth has it at 3.3 percent. Even though the number looks pretty good, their words were negative which he do not understand, Sibio added.
"However, overall 2020 should be a pretty good year." He further added, "The US economy is doing very well and it will continue to do well. Europe is always to me a bit of an enigma in terms of terrible demographics but it always kind of moses along."
Two big factors that were big uncertainties a month-and-half ago--one being Brexit and the other US-China deal-- are behind us, he asserted.
"So, people are looking for other things but the Brexit thing is resolved whether you like it or not, the UK is going to be on its own."
UK is going to have a very stable pro-business government and the country can do very well if it does the right things, going forward. It is going to have to have lower taxes, Sibio explained.
"However the Singapore-on-Thames idea is a real idea. If they cut the right deal with Europe, right deal with the US, they can do very well. Rest of the Europe because of demographics will always hover in the 1.5-2 percent, some even lower. Italy will be at 0.8 percent. "
"In Asia, China is hovering around 6 percent. I do think that tariffs were hurting China and I think that will be helpful to China now but I do think that the Chinese government wants to maintain a growth rate around 6 percent."
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=yo...
EY global chairman and CEO Carmine Di Sibio said despite International Monetary Fund (IMF) downgraded India's GDP growth this week, numbers are still much higher than the US or Europe.
"So, from an EY perspective we are still going to heavily invest in India," Sibio told CNBC-TV18 on the sidelines of the World Economic Forum at Davos.
He said capital will move into India and for a lot of private equity firms, India is still very much at the top of their list.
"I think there is still value to be had, I think there is innovation, so I don't see a lot of that changing. However I do think India has to deal with some of the structural issues, liquidity and so forth but in terms of outside capital and particularly private equity, I am not hearing any pullback."
On outlook for global economy, Sibio said there is some optimism. IMF growth has it at 3.3 percent. Even though the number looks pretty good, their words were negative which he do not understand, Sibio added.
"However, overall 2020 should be a pretty good year." He further added, "The US economy is doing very well and it will continue to do well. Europe is always to me a bit of an enigma in terms of terrible demographics but it always kind of moses along."
Two big factors that were big uncertainties a month-and-half ago--one being Brexit and the other US-China deal-- are behind us, he asserted.
"So, people are looking for other things but the Brexit thing is resolved whether you like it or not, the UK is going to be on its own."
UK is going to have a very stable pro-business government and the country can do very well if it does the right things, going forward. It is going to have to have lower taxes, Sibio explained.
"However the Singapore-on-Thames idea is a real idea. If they cut the right deal with Europe, right deal with the US, they can do very well. Rest of the Europe because of demographics will always hover in the 1.5-2 percent, some even lower. Italy will be at 0.8 percent. "
"In Asia, China is hovering around 6 percent. I do think that tariffs were hurting China and I think that will be helpful to China now but I do think that the Chinese government wants to maintain a growth rate around 6 percent."
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=yo...
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