Will India become the next fastest growing economy in Asia?

[Aepsilons]

Will India become the next fastest growing economy in Asia? What are the implications for this new paradigm. Let's discuss.

 

[Who.Cares]

No.

 

[illusion8]

No.

It already is..

At 7 per cent, India remains fastest growing major economy - The Hindu

 

[Tridibans]

India today is already the fastest growing major economy in this world.

The new global economy - CNNMoney

We are currently a 2.3 trillion USD economy and our growth is around 7.3-7.5 % and expected to be around 8% for the next few years. India is exactly where China was in early 2000's. We are perhaps 15 years behind. In fact, from 1990 to 2015, the poverty in our nation has decreasd from around 61% to around 21% now (UNDP data).

Lets face it, we are yet to take off thanks to Congress policy paralysis from 2006-2012 but with Modi at the helm, things are really changing. I am from the banking industry and let me tell you, in the last one year, we have now the largest ever forex reserves in our history, inflation is at 5 years low (also thanks to oil prices) and companies are hiring people at a record number.

China is FAR FAR ahead at this moment. We are nowhere near a developed economy. But perhaps if this current trend continues, we can eradicate poverty and develop our infrastructure i the next decade or two. By 2020, we will be the 3rd largest economy at around 5 trillion USD.

 

[Ryuzaki]

Delhi-Mumbai Industrial corridor will determine future of India

Delhi - Mumbai Industrial Corridor (DMIC)

JICA also has a stake in DMIC

 

[illusion8]

Will India become the next fastest growing economy in Asia? What are the implications for this new paradigm. Let's discuss.

Most Indians are impressed with the China / South Korean / Japanese models, Chinese pulled out millions of their citizens from poverty within a couple of decades. Being number one isn't the criteria, rather - social development is and should be the foremost.

 

[Aepsilons]

Most Indians are impressed with the China / South Korean / Japanese models, Chinese pulled out millions of their citizens from poverty within a couple of decades. Being number one isn't the criteria, rather - social development is and should be the foremost.

Correct. The CPC was able to lift 800 million out of poverty levels. I suppose India's Government should now goal to lift the same number out of poverty. This can be done. Seems to me that Modi inherited an effective economic machine that Manmohan Singh built (who was an Economics scholar, btw). Now let's hope that succeeding PMs of India will be as practical and rigid as Modi and Singh.

It already is..

At 7 per cent, India remains fastest growing major economy - The Hindu

Interesting enough that ADB and IMF project India's growth rate from 2015 to 2025 will be up to 10% per annum.

Indonesia is also expected to grow at 14% per annum.

 

[Viny]

More then speed we need stable growth in economy which covers all the sections of society.

Speed is the measure that entertains people who like to see figures, but majority of mass want to see all inclusive growth thats continues for long period. A year of high and then many years of uncertainty is not good..

 

[Farooq]

Yes, because Bollywood is making a movie on the 'Shupa Powa' rising in every way

so it has to be true !

 

[Chanakya's_Chant]

Will India become the next fastest growing economy in Asia? What are the implications for this new paradigm. Let's discuss.

Right now India has the best manufacturing PMI in Asia - Among emerging market Asian economies, apart from Vietnam, only India’s manufacturing PMI showed expansion from the previous month - All the other economies except Vietnam and Japan had readings below 50, which indicate a contraction in the manufacturing sector from the previous month. Indian manufacturing growth may be sluggish, but at least it’s growing.

Source:- India’s manufacturing PMI: best in Asia - Livemint

What India desperately needs at the moment is a rate cut - Rajan will possibly cut the repo rate by 25 basis points to 7% later this month in line with consensus, as inflation is likely to undershoot the RBI’s current target of 6 per cent by January 2016. GST bill being the best thing that can happen to the Indian economy in the coming months - Can alone boost the annual GDP growth by 1-2%!

Interesting enough that ADB and IMF project India's growth rate from 2015 to 2015 will be up to 10% per annum.

Indonesia is also expected to grow at 14% per annum.

Should have specified whether it is real growth rate or nominal growth rate - it confuses a lot!

 

[Ind4Ever]

Will India become the next fastest growing economy in Asia? What are the implications for this new paradigm. Let's discuss.

Of course. No turning back from here on. 10 billion dollars will be given as loans for small start up in India. New scheme by Indian government. These just a glimpse of our aim and effort to create India as a hub of global manufacturers but we won't do the mistakes done by Chinese. We won't be a Manufacturing base economy but overall well managed economy of services, world's back office, manufacturing, defence products etc.

India is the land of opertunity. India today is China in 2000 and US in 80s... Massive opportunities in India

 

[Ryuzaki]

Yes, because Bollywood is making a movie on the 'Shupa Powa' rising in every way

so it has to be true !

Recommend me that movie,I might have missed it.

 

[illusion8]

Correct. The CPC was able to lift 800 million out of poverty levels. I suppose India's Government should now goal to lift the same number out of poverty. This can be done. Seems to me that Modi inherited an effective economic machine that Manmohan Singh built (who was an Economics scholar, btw). Now let's hope that succeeding PMs of India will be as practical and rigid as Modi and Singh.



Interesting enough that ADB and IMF project India's growth rate from 2015 to 2025 will be up to 10% per annum.

Indonesia is also expected to grow at 14% per annum.

Yeah..the goal is that, though in a country like India it's much much more difficult to achieve that as compared to China.Growth needs to be all inclusive..we cannot have a large percentage of the population in poverty when we talk of growth, it would be a social nightmare.

 

[Aepsilons]

Let's look at India's actualized industry growth (manufacturing and service), looks really healthy, to be honest:

 

[Indika]

More then speed we need stable growth in economy which covers all the sections of society.

Exactly , we need stable and consistent growth which benefits all sections of society. We should stop comparing growth rates like stock market indices. Lets not compare ourselves with india, even though size may be same but it is apples to oranges comparison. They can bulldoze their way through but india has to function in a democratic manner.

ppl who compare indias growth rate with china dont know the price of freedom .