Responding to Subramanian's argument that India can't replace China, Nageswaran cites digital economy, small businesses and economic boom in 'Foreign Affairs' article.
While global headwinds remain, several factors due in large part to management of key sectors in last few years have placed India in strong position for remaining part of this decade.
The government's annual Economic Survey report said its baseline scenario for growth for 2023/24 was 6.5%, with nominal growth, which accounts for inflation, forecast at 11%.
According to Deloitte’s survey, industry leaders say global economic slowdown, geopolitical tensions, & supply chain disruptions can pose challenges to India’s growth rate.
Sinking of Joshimath has provoked larger concerns about the environment. And though India's green record is better, govt must heed environmental warnings, prioritise water conservation.
Services sector shows buoyant recovery but manufacturing estimated to decelerate due to weak external demand. Moderation in commodity prices could provide some support to the sector.
Scientists who authored the paper claim IPCC projections give rich nations higher energy consumption, cutting down share of developing ones, potentially affecting development.
Government data shows that India’s GDP was 5.6% higher in first half of 2022 than in same period of 2019, but not all sectors are growing at the same pace.
Strong macroeconomic fundamentals have placed India in good stead compared to other emerging market economies, says World Bank. Lowers next year’s growth estimate from 7% to 6.6%.
While GDP growth was lower than Q1's 13.5%, economy saw an uptick on quarter-on-quarter basis driven by services sector. But contraction in manufacturing is cause for some concern.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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