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The combination of high food inflation, general inflation and lack of sufficient job opportunities due to slow growth in the manufacturing sector can spell disaster for a highly populated country like India.
To make India an attractive destination for investment for both Indians and foreigners will require quick implementation of all the pending major infrastructure projects and to see that some important Bills are passed in Parliament.
To become a major industrial nation by 2030, as predicted by a Washington think-tank recently, India will require many changes in the economic structure of the country in which efficient and viable small and medium enterprises coexist with the big factory-based organised sector and with a middle class bigger than that in the US and Europe combined, to support it with their demand.
The first industrial estate zones in India came up during the 1960s when R. Venkatraman and C. Subramanian were ministers under Chief Minister K. Kamaraj.
With the incorporation of emerging technologies like Artificial Intelligence (AI) and 4D Printing, additive manufacturing is to be one of the primary
The Chinese growth story, triggered and driven by its industrial growth, is truly amazing. But now that industrial growth is slowing down because of higher wages and higher standards of living, to remain competitive China would have to outsource its production to cheap labour countries or move to another growth area - services.
In recent years, China has increasingly invested in West Africa to further its ambitious Belt and Road Initiative, diversify its supply chains, and acquire critical minerals and raw materials for its domestic industries. Indeed, China sees immense potential in West Africa for the region’s ability to provide a secure supply of critical minerals and energy resources insulated from the West. Beijing is now the region’s largest bilateral trading
Opening up retail trade should not have happened at a time when inflation is high, GDP growth rate is falling, industrial growth and exports are declining. Unfortunately, it would take a long time for the multi-brand retailers to establish their own supply chains and hence inflation is unlikely to come down in the near future.
The government is perhaps keen on projecting a welfare-oriented profile in which the poor are looked after. Prices, jobs, higher industrial growth and prospects of rapid economic recovery will remain the most important planks on which the next elections will be fought. The RBI's latest move of not raising the repo rate may also help in economic recovery.
