The drop in international commerce was quick and steep during the first Covid lockdowns, but a rebound fueled by emergency fiscal and monetary stimulus has been almost as sharp.
The replacement of a US-centric global economy with a China-centric one spells trouble for the trend of global development that has prevailed for the past three decades.
The idea of ‘atmanirbhar’ India is old wine in a new bottle. While pushing us to be world leaders, Modi shouldn’t repeat the mistakes of George Fernandes and Indira Gandhi.
Under the ubiquitous 'Make in India’, we targeted a manufacturing growth of 14 per cent over five years. However, the 2020 growth is a paltry 2 per cent.
Although economists have warned against decisions like America First and Brexit, India does have the edge when it comes to boosting domestic consumption post-coronavirus.
Until now, units operating even in recognised industrial areas needed a separate factory licence. The move is expected to especially give a boost to small and medium enterprises.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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