S&P expects India, currently world’s 5th largest economy, to grow at 6.4% this fiscal. In contrast, it expects China’s growth to slow to 4.6% by 2026 from estimated 5.4% this year.
No sector has emerged to lead India's growth in decades. But even if it were to grow & become 3rd-largest economy, its real challenge would remain — eliminating multidimensional poverty.
India is no longer fastest-growing large economy, nor is it benefiting from 'China Plus One' scenario. But on inflation, deficit management, forex reserves & stable rupee, it has done well.
There were big revisions for the U.S. and the euro area, as well as China, which is now forecast to grow modestly, the only Group of 20 country with such a prospect.
From power consumption to jobs to Google’s mobility trends, the figures show activity has picked up from the record slump registered in April, but the recovery has a long way to go.
The challenge is no longer one of policy intent — the blueprint for a world-class ECCE system exists within the NEP 2020. The task now is implementation fidelity.
Fears that an escalation of the conflict could heighten a fuel squeeze & endanger the economy unnerved traders, with NYT reporting Iran stopped negotiating a truce with the US.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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