‘Continue With The Trade Negotiation Strategy'
Businessworld|August 31, 2019
Bibek Debroy, Chairman, EAC-PM, discusses with BW Businessworld the present economic slowdown and stresses that the slowdown is not particular to the Modi regime. Excerpts from the chat:
‘Continue With The Trade Negotiation Strategy'

On the economic slowdown

The slowdown is not something that suddenly started in 2014. It has been going on for a fairly long time. And there are reasons for the slowdown, and a large part of this is because of what has been happening locally.

There was a time when the GDP growth rates in India crossed 9 percent. That was a period when the external world was kinder. Much of the slowdown is not typical to India and I think it’s important to recognize this if one is not unnecessarily trying to politicize it. It is not as if there has been a sudden slowdown in May 2014. There’s been a continuous deceleration.

On US-China trade war and the consequent recession

There are a few countries in the world that have run into a recession. Some may be heading towards it. Certainly, the word recession should not be used in the Indian context because we have witnessed a GDP growth of 6.8 percent for the last full year. By no stretch of imagination can this be called a recession.

When you see the global environment, there is not much one can do because of the trade friction between the US and China. Some of it is a consequence of the fact that the multilateral trading system and multilateral negotiations are stuck. Similarly, the regional or bilateral negotiations are also not proceeding fast enough when you have an uncertain environment, which is obviously impacting the export of goods and services.

From the national income point of view, what is important is, of course, net exports. If there is global uncertainty and a global slowdown then obviously the demand side does not look that bright. The best you can do is to continue with the trade negotiation strategy. The exchange rate has its own issues. So the only thing you can hope to do is to have supply-side improvements, which the government has been doing whether it’s on the logistics side of the custom side.

Diese Geschichte stammt aus der August 31, 2019-Ausgabe von Businessworld.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der August 31, 2019-Ausgabe von Businessworld.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESSWORLDAlle anzeigen
Gauging Trumponomics For India
BW Businessworld

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

time-read
2 Minuten  |
November 16, 2024
Reflections on Consciousness and Creation
BW Businessworld

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

time-read
2 Minuten  |
November 16, 2024
MORE TAKE TO DRIVING IN STYLE
BW Businessworld

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

time-read
4 Minuten  |
November 16, 2024
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
BW Businessworld

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.

time-read
2 Minuten  |
November 16, 2024
An ENRiching Outlook
BW Businessworld

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

time-read
2 Minuten  |
November 16, 2024
Paving the Path to a Sustainable Future
BW Businessworld

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

time-read
2 Minuten  |
November 16, 2024
LEADERSHIP TRANSITION AT XIAOMI INDIA
BW Businessworld

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

time-read
3 Minuten  |
November 16, 2024
WEAVING SUSTAINABILITY
BW Businessworld

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

time-read
1 min  |
November 16, 2024
FORCE FOR GOOD
BW Businessworld

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

time-read
1 min  |
November 16, 2024
REIMAGINING TOMORROW
BW Businessworld

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

time-read
1 min  |
November 16, 2024