Asia Archives - Page 39 of 108

27Dec

By Mike TrudellNo Comments

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.

27Dec

By Mike TrudellNo Comments

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

25Dec

By Joe RodriguezNo Comments

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

25Dec

By Joe RodriguezNo Comments

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>

23Dec

By Mike TrudellNo Comments

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.

23Dec

By Mike TrudellNo Comments

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>

22Dec

By Joe RodriguezNo Comments

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 ...

This election year in India, the economy will probably be divided into two halves.

21Dec

By Mike TrudellNo Comments

Asia, World

This election year in India, the economy will probably be divided into two halves.

A landmark general election in India, scheduled for the summer of 2024, will see the drivers of economic growth shift midway through the year, according to Goldman Sachs Research. Overall, despite food and oil supply shocks keeping inflation elevated, growth is forecast to remain stable and resilient. For 2023, our economists expect real GDP growth to come in at 6.7% year on year, up from our earlier estimate of 6.4%. Among the 13 large economies in Goldman Sachs Research’s global outlook for 2024, India’s projected growth rate is the highest at 6.2%, with China in second at 4.8%, as of December 18. As the 2024 election approaches, “we expect consumption growth to be driven by subsidies and transfer payments,” write Goldman Sachs Research’s India economists Santanu Sengupta and Arjun V...

Nawaz Sharif: We are to blame for Pakistan’s economic predicament, not the US or India.

20Dec

By Mike TrudellNo Comments

Asia, USA, World

Nawaz Sharif: We are to blame for Pakistan’s economic predicament, not the US or India.

Pakistan’s former Prime Minister Nawaz Sharif on Tuesday said neither India nor the US were behind the cash-strapped country's miseries but "we shot ourselves in our own foot", indirectly referring to the powerful military establishment for its woes. During a conversation with Pakistan Muslim League-Nawaz (PML-N) ticket aspirants, the party supremo, who is eying to become Prime Minister for a record fourth time, pointed out that he was ousted from power three times, in 1993, 1999 and 2017. "Today, where Pakistan has reached (in terms of the state of the economy), this is not done by India, the US, or even Afghanistan. In fact, we shot ourselves in our own foot… they (a reference to the military) imposed a selected (government) on this nation by rigging the 2018 polls that led to the...

<strong>Sustainable India: an emerging leader of the circular economy</strong>

19Dec

By Michael SmithNo Comments

Asia

Sustainable India: an emerging leader of the circular economy

For emerging market economies, the modern development predicament is to support growth with inclusivity while safeguarding the environment and making action-oriented policies to combat climate change. The UN, through Agenda 2030, has voiced this concern by promoting the practices of a circular economy, envisaged in its SDG Goal 12 (Sustainable Consumption and Production), Goal 13 (Climate change), and Goal 8 (on economic growth), among others. Contrary to the popularly followed designs of economic growth, which are primarily linear in their execution, the circular economy model is highly multi-dimensional and inclusive. This is because the circular economy model doesn’t include any externalities like pollution and waste in its inherent design, and thus, the focus is on extending the life ...

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