Leading global investment bank Goldman Sachs has projected a more than 15 per cent GDP expansion for India in the next fiscal. And strong farm sector growth and rising rural prosperity could temper the blow of the massive economic contraction in the first quarter of the current fiscal.
India’s economy is getting warmed up and any dire predictions made towards it at this point are exaggerated. The negative lining brought about by Covid-19 will soon be tempered and it will be business as usual for India.
The coronavirus pandemic is leading to massive demand destruction across Asia and much of the world. Innovative solutions riding on technology will have to be found to as planners migrate from thinking of economic inclusion to economic wellbeing.
The pace and scale of digital transformation in India has inspired tech giants and start-ups to build and robustly invest in the country. The rewards are outsized – as companies who have cracked the India code discovered to their delight, notwithstanding the gloomy predictions from some so-called pundits.
There has, undoubtedly, been a positive sentiment towards India and the indications are that the best is yet to come.
Foreign portfolio investors have pumped in $3 billion into Indian stocks over the last seven trading sessions, reversing a two-month long trend, following the announcement of major liberalisation measures and the expectation that the economy will gradually lift itself out of the Covid-induced slowdown.
The crash in global oil prices will bring some immediate relief for India but could presage trouble if it persists beyond the immediate term. Highlights: While the falling oil prices are helping India’s fiscal deficit and current account deficit figures, a long-term decline might hurt the country’s economy. If crude prices remain low for long, several companies in the US could face bankruptcy, which could snowball into a global recession and cause a decline in the value of the Indian [...]
Australian Trade Minister Simon Birmingham’s visit to India, along with over 100 businesses, is intended to build an enduring economic relationship with one of the world’s fastest growing economies. Highlights: Australia’s India Economic Strategy has set a target for India to become one of Australia's top three export markets. Australian Trade Minister Simon Birmingham’s trade mission along with over 100 businesses is to help open new doors for Australian businesses and establish an enduring relationship with India. The AIB-X, which [...]
UK’s Deputy Trade Commissioner for South Asia urges UK businesses to deepen engagement with India as it is quickly racing up the charts to become one of the fastest growing economies of the year. Highlights: As the UK leaves the EU, there is a great opportunity to create even deeper and stronger ties with India. UK-India bilateral trade increased by 6.4 per cent to over £22 billion in the year till September 2019, with the UK’s services exports to India [...]