Author
Minhaz Merchant is the biographer of Rajiv Gandhi and Aditya Birla and author of The New Clash of Civilizations (Rupa, 2014). He is founder of Sterling Newspapers Pvt. Ltd. which was acquired by the Indian Express group
The private sector had long complained of credit availability in banks. That no longer holds good. If the private sector now joins the government to invest in manufacturing and infrastructure, India’s economy can once again beat economists’ forecasts of muted growth in 2024-25
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Most institutional forecasts see the Indian economy growing at 6.5 per cent in 2023-24. They could be wrong. A figure closer to 6.8-7.0 per cent is more likely
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India needs deep structural reforms. Workforce productivity remains low. Skillsets vary: of the roughly six lakh engineers India produces a year, only the top 20 per cent – around 1.20 lakh – are world-class
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If the manufacturing and software services sectors fire at the same time, tax revenue remains strong and corporate earnings maintain their upward trajectory, spurring greater private investment across sectors, the RBI governor’s recent upbeat forecast for the economy might well appear prescient
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The relationship between Europe and China has soured since the Russia-Ukraine war. The BRI was meant to be a new Silk Route from Asia to Europe. That vision has blurred
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Western nations regard climate change as a time bomb that is already ticking. The rich world caused the problem. But it needs the rest of the world – which did not play a significant role in warming the planet – to help fix it
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With financial resources flowing into the broader economy, average annual GDP growth at seven per cent will be well within reach. That is the key number for India in order to achieve upper-middle income status by 2047, eliminating poverty and mitigating inequality
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Trudeau’s attempt to persuade the Anglophone countries – Britain, Australia, New Zealand and the US – to make common cause against India has proved unsuccessful
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According to the IMF’s latest World Economic Outlook, India’s GDP (PPP) is $13,030. China’s GDP (PPP) is $33,070. None of this suggests India should be pleased that the economic gap between China and India has fallen from five times to a little over two times when per capita income at dollar exchange rates is adjusted for PPP
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Services are growing at well over 10 per cent a year. Since the services sector accounts for 60 per cent of India’s GDP, it forms a strong base for annual growth of six per cent (10 per cent of 60 per cent) even if growth in industry or agriculture falters
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