The Indian economy has honed the mantra of resilience to thrive in the chaos of back-to-back economic shocks and bounce forward to grow at 7.3%. EPISODE #159
Interesting article Anil and the interview with the economist from Axis Bank, was also skillfully conducted. While comparing with the rest of the world, India definitely can give itself a generous pat on the back ; however in the current situation, the US economy has shown unexpected resilience, I feel. China always managed to pip us to the post in race for fastest growth, but somehow they have lost their way, this time; and their aggressive behavior is partly to blame. Japan and Germany, the other economies ahead of India are entering recession but US has managed to bounce back and with the prospect of arms sales, in view of the current geopolitical situation, their future, along with some of the other arms exporting countries, is set to revive. But the per capita income of these countries is way above India and the real challenge for India, as I perceive, will come after the 8 trn $ line is breached. So for the next decade India should be able to keep it's nose in front and keep on growing at the fastest rate. With this government in the saddle, India has come out of the hibernation induced by self serving political parties and leaders. Barring an internal chaos or external aggression, I don't forsee a change in course. Thank you Anil, for a thought provoking article.
While resilience is the buzz word in banking, finance and risk management, we must note that Indian economy appears resilient due to the policies of Modi Govt. Had there been any other Govt, it could have been a different story. If Modi continues for another decade, we can certainly hope to have governance in place which would be strongly resilient fir years to come.
Thanks for the perspective. The thing that stood in the NCAER graph that you have reproduced is how off the mark the World Bank and IMF projections are. Wonder if it has got to do with the fact that their model is flawed or they don't seem to catch what's happening on the ground.
As always, beautifully written, extremely informative and well researched piece. As an Indian, it gives me immense pride to see India coming out and asserting itself in all areas. I see the next 10 years as being very good for India. We are rightly projecting ourselves as a confident, capable, tenacious race and nation. I personally feel, alongwith all the above traits, we also possess humility in large measure. This we must continue to retain
Resilience is a key word to the Indian Economy march towards economic progress ! Whenever a crisis has hit the economy, whether macro or micro, the nation has bounced back to stride ahead . Yes structural changes have acted as lubricant, however, I believe that it’s the Indian character to fight against all odds which cannot be ignored.
The inference that resilient growth is directly proportional to liberalisation of market may not always be true. On the democratic spring board enhanced government support in such crisis cannot be denied. The fiscal support during the Covid pandemic extended by Mr Modi government brought about a turnaround when the rest of the world was still struggling. Of course , many of these countries have always sworn by free market !
Interesting article Anil and the interview with the economist from Axis Bank, was also skillfully conducted. While comparing with the rest of the world, India definitely can give itself a generous pat on the back ; however in the current situation, the US economy has shown unexpected resilience, I feel. China always managed to pip us to the post in race for fastest growth, but somehow they have lost their way, this time; and their aggressive behavior is partly to blame. Japan and Germany, the other economies ahead of India are entering recession but US has managed to bounce back and with the prospect of arms sales, in view of the current geopolitical situation, their future, along with some of the other arms exporting countries, is set to revive. But the per capita income of these countries is way above India and the real challenge for India, as I perceive, will come after the 8 trn $ line is breached. So for the next decade India should be able to keep it's nose in front and keep on growing at the fastest rate. With this government in the saddle, India has come out of the hibernation induced by self serving political parties and leaders. Barring an internal chaos or external aggression, I don't forsee a change in course. Thank you Anil, for a thought provoking article.
While resilience is the buzz word in banking, finance and risk management, we must note that Indian economy appears resilient due to the policies of Modi Govt. Had there been any other Govt, it could have been a different story. If Modi continues for another decade, we can certainly hope to have governance in place which would be strongly resilient fir years to come.
Thanks for the perspective. The thing that stood in the NCAER graph that you have reproduced is how off the mark the World Bank and IMF projections are. Wonder if it has got to do with the fact that their model is flawed or they don't seem to catch what's happening on the ground.
Excellent commentry Anil ! In many ways your last post and this go hand in hand. The digital revolution has been an absolute game changer !
As always, beautifully written, extremely informative and well researched piece. As an Indian, it gives me immense pride to see India coming out and asserting itself in all areas. I see the next 10 years as being very good for India. We are rightly projecting ourselves as a confident, capable, tenacious race and nation. I personally feel, alongwith all the above traits, we also possess humility in large measure. This we must continue to retain
Resilience is a key word to the Indian Economy march towards economic progress ! Whenever a crisis has hit the economy, whether macro or micro, the nation has bounced back to stride ahead . Yes structural changes have acted as lubricant, however, I believe that it’s the Indian character to fight against all odds which cannot be ignored.
The inference that resilient growth is directly proportional to liberalisation of market may not always be true. On the democratic spring board enhanced government support in such crisis cannot be denied. The fiscal support during the Covid pandemic extended by Mr Modi government brought about a turnaround when the rest of the world was still struggling. Of course , many of these countries have always sworn by free market !
Thanks Anil for thought provoking article !