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
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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Corporate earnings growth too is ahead of companies in the US, Europe, China and Southeast Asia. Investors believe a higher trajectory of corporate profit growth justifies India’s steep P/E ratios
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Global financial institutions believe China’s long-term economic growth rate could sag to three per cent a year
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The Henley Private Wealth Migration Report 2023, released recently, says the number of wealthy Indians leaving India has actually fallen
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According to the omnibus NFHS, 93.3 per cent of Indian households own mobile phones, 67.8 per cent own television sets, 49.7 per cent own two-wheelers, and 7.5 per cent own four-wheelers
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China’s exports have long fuelled economic growth but they too are slowing in the face of recessionary demand in the West
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While China’s total exports are largely merchandise with few services, making it a global factory of everything from electric vehicles (EVs) to children’s toys, India’s export basket is well balanced between goods and services
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Beijing’s foreign ministry spokesperson Wang Wenbin was quick to claim that China still had over 900 million people of working age
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