Added to this were global events like the prolonged Covid wave, supply chain disruptions, the Russia-Ukraine war, currency fluctuations, inflation. The Indian economic growth rate has been much better than that of almost all other global economies. But the difficulty is to assess realistically, and without political bias, if the growth rate in the next calendar or financial year will be sustained and move higher than the current rate.
The reason for this hypothesis is that the current financial year has been helped by the base-growth rate of the post-Covid spending and consumption patterns. The coming year would need focus in balancing growth. It should not just be limited to aggregate growth, but be across all segments of the population.
While some analyst calls or research papers may be exuberant in their forecast of the Indian economy in the year ahead, it is better to be pragmatic. The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) estimates growth to be at 6.8 per cent. It has factored in its concerns on global issues and inflationary worries, the higher interest rate regime globally, impact on India's exports and services sector, and importantly, the potential slowdown of capital flows into India.
Even at these lowered growth estimates, India will shine well amongst the global economies and will be the fastest growing global economy. India's share in the global economy is 3.5 per cent, whereas the United States and China make up 44 per cent of the global economy. To balance the arithmetic, Indian growth has to be much higher, and for a longer while, to improve the quality of living of the citizenry.
هذه القصة مأخوذة من طبعة December 31, 2022 من Businessworld India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 31, 2022 من Businessworld India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders