HOT NEWS/ Smuggled stones hidden in cocaine containers are discovered!

 Kliko këtu për të tjera
Voxpress:

How India is quietly claiming economic superpower status

2022-09-12 18:22:51Kosova&Bota SHKRUAR NGA REDAKSIA VOX
How India is quietly claiming economic superpower status
India is quietly claiming economic superpower status

The rise of China has been the biggest story in the global economy in recent decades. But amid worries about its struggling property market and global fears about inflation, the emergence of its neighbor India as a potential new economic superpower could be a reality.

You won't find it in Liz Truss' blueprint for a "brilliant modern Britain", but the UK has just been overtaken by India as the world's fifth largest economy. The country of 1.4 billion people is on track to become the third largest economy behind the US and China by 2030, according to economists.

And while the world has become familiar with Chinese business titans like Alibaba founder Jack Ma, the staggering wealth amassed in recent years by Indian billionaires Gautam Adani and Mukesh Ambani has become less publicized.

India was for many years seen as having a poor relationship with China, held back by a sclerotic, sprawling state sector and labyrinthine bureaucracy. It still has major problems of poverty and poor infrastructure, but is beginning to emerge as a rival to its larger neighbor with the kind of economic growth figures that were once the pride of Beijing.

Gross Domestic Product (GDP) grew by 13.8% in the second quarter of this year as pandemic controls were lifted and manufacturing and services boomed. Although double-digit growth is unlikely to repeat in later quarters, India is still on track to expand by 7% this year as it benefits from economic liberalization in the private sector.

"India has overtaken the UK to become the world's fifth largest economy," says Shilan Shah, senior India economist at consultancy Capital Economics, citing the latest updated figures from the International Monetary Fund. The Guardian .


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×