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.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Is Leadership Without Hierarchies Possible?
LEADERSHIP IN THE current era is more challenging than ever before.
The Rise and Evolution of Coffee Culture in India
AS A BANGALORE native, South Indian filter ‘Kaapi’ has always been a significant part of our tradition.
The Daily Ground Goes Desi
Success in Tier-2 and Tier-3 cities hinges on several key factors, with one of the most important being the ability to offer high-quality products at an accessible price point
Cracking The Indian Code
TARUN JAIN, CEO of Tim Hortons India believes in creating an experience at cafes by blending global quality, local flavours and affordability
Making Coffee the New Chai in India
Affordable, great-tasting coffee made fast-abCoffee is reshaping how India drinks coffee
Scripting A New Era Of Coffee In India
From a bootstrapped startup to international expansion, NOTHING BEFORE COFFEE is brewing its way to the top by challenging the giants of the coffee industry with innovation, personalisation, and sustainability
"Driven By A Younger Demographic, Coffee Culture Is On The Upswing"
SUNIL D'SOUZA, Managing Director and CEO of Tata Consumer Products, discusses the company's strategic growth in India's booming coffee market, focusing on premiumisation, innovation, and expanding consumer experiences both at home and in cafés, in this exclusive conversation with BW Businessworld's Tarannum Manjul
Fresh Brew, Big Ambitions
From startups to stores, Beanly's Samayesh Khanna and Rahul Jain elevate India's coffee culture by making freshly brewed coffee a daily delight
"On Track To Become India's Top Café Chain"
In an exclusive interview, RAJAT AGRAWAL, CEO of Barista Coffee, shared insights on the company's current market position, expansion strategies, and its response to growing competition
"Ensuring A Seamless Coffee Experience Outside The Cafe Is The Next Big Thing To Watch Out For"
In an exclusive conversation with BW Businessworld's Resham Suhail, Third Wave Coffee CEO RAJAT LUTHRA and its Co-founder AYUSH BATHWAL delve on how they are navigating the competitive landscape, going beyond retail and tapping changing consumer preferences