Asia

<strong>India makes longer economic strides, sees better future outlook</strong>
Asia

India makes longer economic strides, sees better future outlook

Indian economy is making longer strides than it ever made before. And the evidence of the glorious journey does not come from New Delhi but from the World Bank and India’s Asian rival China. Major global institutions have predicted economic growth of over 6 percent even as India enjoys the fast-rising foreign exchange. Indian economy is likely to remain resilient despite the global problems. [1]   The world is heading to global recession, the World Bank has warned.[2] However, India is going to have the fastest growth rate among the world’s largest economies. “In India, growth is expected to edge up to 6.4 percent in 2024-25,” it said.[3] India's proposed growth rate is impressive as compared to the world average of 2.4 percent and China’s deceleration to 4.4 percent.[4] Even b...
Deepening Ties Between India And The Uae Through Cultural, Economic, And Ecological Milestones
Asia

Deepening Ties Between India And The Uae Through Cultural, Economic, And Ecological Milestones

Prime Minister Narendra Modi will grace the inauguration of the Bochasanwasi Akshar Purushottam Swaminarayan (BAPS) Sanstha temple in Abu Dhabi, the capital of the United Arab Emirates, next February. This invitation is extended by representatives of the BAPS organization led by Swami Ishwarcharandas and Swami Brahmaviharidas that marks a significant moment for the Hindu community in the UAE. Set to bloom amidst the desert sands, the BAPS Sanstha temple will be a breathtaking masterpiece reminiscent of a blossoming lotus flower. As the largest Hindu temple in the UAE, it will stand as a testament to the vibrant faith and rich cultural heritage of the Indian diaspora in the region. The temple's intricate design, crafted with traditional hand-carved stonework from India, promis...
2024 will be a fortune year for India
Asia

2024 will be a fortune year for India

Strong economic fundamentals with stable government will create a great dynamism in the markets. The increase in per capita income at 9.6%, from USD 2538 in 2023 to USD 2784, will create immense demand in the economy and enhanced supply by the factories and opportunities for new employment India is embarking on a phase of self-sustained expansion, driven by dynamic reforms that have set in motion a virtuous cycle of growth and development. In the post-COVID era, India’s resilience is increasing each day. India is consistently growing at more than 7 percent in the post-pandemic years. During the initial two quarters of FY 2023-24, India experienced real GDP growth rates of 7.8 percent (Q2), and 7.6 percent (Q3) respectively with an average of 7.7% in H1 2023-24. Moreover, the Reserve Ba...
Asia

Reforms percolates at ground level, 25 States grew more than 7% in post pandemic years

States play a pivotal role in overall growth and development of the Indian Economy. State Governments propel the economy by dismantling barriers in the production processes such as land, labor, capital, and entrepreneurship, and contribute massively towards infrastructure building and industrialization in their respective territories. On the socio-economic front, the States have taken effective measures for the implementation of reforms in their socio-economic and infrastructural development. In the recent years, the States are in the process of rapid industrialization with new innovations through coordinated development of Micro Small and Medium Enterprises, and large scale enterprises. The States have been taking proactive measures to promote education, expedite the productivity of t...
By the end of the century, India’s economy will be the largest in the world, ranking third by CEBR.
Asia, World

By the end of the century, India’s economy will be the largest in the world, ranking third by CEBR.

India, emerging as the third and "eventually the largest economic superpower", is anticipated to have a GDP "90 percent larger than China’s and 30 percent larger than that of the US" by 2100, CEBR stated in its report. India is set to become the world's third-largest economy by 2032, and will eventually surpass China and the United States to become the "world's largest economic superpower" by the end of this century, as per a report released by the Centre for Economics and Business Research (CEBR) on December 27. India will sustain "robust economic growth", averaging 6.5 percent from 2024 to 2028, CEBR stated in its 'World Economic League Table 2024' report. This will result in the country surpassing Germany to become the fourth-largest economy in 2027, and overtaking Japan to becom...
India’s employment crisis: macroeconomic causes
Asia, World

India’s employment crisis: macroeconomic causes

The employment challenge can no longer be met only through more rapid GDP growth; a separate policy focus is needed on employment There are many indications everywhere that India continues to be going through a jobs crisis. Official data sources as well as many on-the-ground reports point to this fact. What are the macroeconomic reasons for this crisis? The symptoms of low labour demandAt the outset, it is useful to distinguish the two types of employment that prevail in an economy such as India. The first is wage employment which is a result of labour demanded by employers in their pursuit of profits. The second is self-employment where labour supply and labour demand are identical, i.e., the worker employs herself. A further useful distinction can also be made between wage labour ...
India’s Economic Growth Will Increase Demand For Corporates, According To Fitch Ratings
Asia, World

India’s Economic Growth Will Increase Demand For Corporates, According To Fitch Ratings

With strong domestic demand growth, it is expected that India will be among the world's fastest-growing countries, with resilient GDP growth of 6.5 per cent during the fiscal 2024-25, Fitch Ratings, one of leading credit rating firms, expects India's resilient economic growth will boost demand of the corporates, the PTI reported. In its latest research report on 'India Corporates: Sector Trends 2024', Fitch said that this is a sequel to the robust performance of the corporates in 2023 and will offset weakness from slowing growth in the key overseas markets. Fitch said that rising demand and easing input cost pressure should boost margins of the corporates in the next financial year. According to the credit rating firm, with strong domestic demand growth, it is expected that India wi...
<strong>Economic Impact of Chinese invasion of Taiwan</strong>
Asia, China

Economic Impact of Chinese invasion of Taiwan

A recent tweet on Chinese strategy with regard to Taiwan is quite revelatory. A book titled “If China Attacks” being sold in Taipei was purchased by a NG activist named Cynthia Iuun. Sometime after she had purchased the book she started receiving calls from anonymous callers, obviously Chinese asking what she thought of the book. Clearly, a Chinese intelligence psychological warfare operation ahead of the Presidential Elections in Taiwan, the narrative also indicates the larger Chinese strategy for eventually reunited Taiwan with the Chinese mainland. The very task of estimating an eventual takeover by China is challenging to say the least. In this context, it is worth citing Derek Grossman who recently tweeted that, "Chinese President Xi Jinping bluntly told President Joe Biden during th...
Five things to remember about Pakistan’s economy, politics, and security in 2023.
Asia, World

Five things to remember about Pakistan’s economy, politics, and security in 2023.

India's neighbouring country, Pakistan continued to grab headlines throughout the year 2023. Whether it was an economic crisis, food crisis, mass protests, political arrests or upheaval over election dates — Pakistan saw it all in this one year. Here's a quick recap of all that happened in Pakistan in the year 2023: Economic crisisIn 2023, Pakistan saw new lows. The Pakistani rupee hit an all-time low, crossing the PKR 300 mark against the US dollar in August 2023. The country's foreign reserves with the State Bank of Pakistan (SPB) also dropped to an alarming level — at $3.1 billion in January 2023. The cash-strapped country struggled to unlock funding from the International Monetary Fund (IMF). In a bid to secure one, the SBP hiked interest rate by 300 basis points (bps) to 20 p...
<strong>PM GatiShakti: Catalysing India’s route towards a developed economy  </strong>
Asia

PM GatiShakti: Catalysing India’s route towards a developed economy  

PM GatiShakti is catalysing India’s route towards a developed economy by 2047. Progress in the infrastructure development is strengthening manufacturing and exports’ growth horizons with improved ease of doing business and reduced costs of doing business. In a historic move to redefine India's infrastructure landscape, the Hon’ble Prime Minister launched the Prime Minister GatiShakti National Master Plan (PMGS-NMP) on October 13, 2021. This visionary initiative seeks to establish a robust multimodal connectivity infrastructure network across various economic zones, aiming for integrated planning and synchronized project implementation. Since its implementation, PM Gatishakti has given a significant strength in the advancement of state of art infrastructure in India; integrating the 36 ...