After several years of downgrades to the country's medium-term growth outlook, the estimates are likely to be upgraded now, Credit Suisse said in a report. The country's economy is showing signs of bottoming out, it said. According to the report, the consensus forecasts of GDP growth for FY2022 over FY2020 stopped falling after October 2020 (currently at (-) 1 per cent). Analysts at Credit Suisse expect these estimates to be revised upwards.
The Asian Development Bank (ADB) on Wednesday slashed India's GDP growth forecast for FY23 to 7 per cent from the earlier estimate of 7.2 per cent mainly on account of higher inflation and a tight monetary policy. India's economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services, ADB said in its second supplement to Asian Development Outlook Report 2022 (ADO 2022). "However, GDP growth is revised down from ADO 2022's forecasts to 7 per cent for FY2022 (ending March 2023) and 7.2 per cent for FY2023 (ending March 2024) as price pressures are expected to adversely impact domestic consumption, and sluggish global demand and elevated oil prices will likely be a drag on net exports," ADB said.
Amid China's growing assertiveness in South China Sea, India, Japan and the US at their first ever trilateral ministerial dialogue in New York.
As regards India, FIIs have pumped in over Rs 34,400 crore in the Indian stocks in calendar year 2021.
In India, many players are in the throes of chaos and pain but at least one partnership -- Air Asia India -- that was fraying even before the pandemic now finds itself at breaking point, says Anjuli Bhargava.
The agreement would divert China's attention and keep them busy in the Pacific theatre, probably resulting in a reduction in threat perception in our area of interest in the Indian Ocean, notes Commodore Venugopal Menon (retd).
'For its part, Pakistan often gives safe haven to agents of chaos, violence, and terror.'
'Overtightening of monetary policy by central banks and the spread of new Covid variants, which may force governments to restart lockdowns or restrict mobility.'
Asserting that "maritime muscle flexing" by some countries and other factors have made the Indo-Pacific region "more contested and more volatile," naval chief Admiral Sunil Lanba on Tuesday said that the Indian Navy has its task cut out as it has been a major security provider in the region.
Any miscalculation and miscommunication are fraught with the risk of a major catastrophe, warns Rup Narayan Das.
China's white paper on Asia-Pacific security cooperation extends an olive branch to India. It mentions India 15 times -- a record in all Chinese white papers issued so far. New Delhi's response will need to be carefully calibrated, says China expert Srikanth Kondapalli.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
China should not feel cornered by a raft of geopolitical moves by the US and Japan against it by forging closer ties with India, Russia and others in the region and Beijing should focus on becoming a strong economic and military power, a state-run daily said on Thursday.
'The success of the country's economic policies is affirmed by receipt of FDI of $15 billion last year, the highest in the Asia-Pacific after China and India, and well ahead of Indonesia, Australia, Singapore, Malaysia and Thailand,' notes Ambassador Talmiz Ahmad.
The long-term growth perspective or potential for India is one of the highest in the Asia Pacific region.
Russia's unprecedented rapprochement with North Korea has raised concerns about the re-emergence of a Russia-China-North Korea alliance which could increase the probability of conflict on the Korean Peninsula, explains Dr Rajaram Panda.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
External Affairs Minister S Jaishankar has met United States Defence Secretary Lloyd Austin and held a productive conversation with him on deepening bilateral defence cooperation, including in the co-production of defence articles, and exchanged perspectives on a variety of security issues.
United States Defense Secretary Chuck Hagel will visit New Delhi next week during which he will hold talks with his counterpart Arun Jaitley and other top officials, aimed at "nurturing" ties with India after the formation of the new government, a top Pentagon official has said.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
'If his three priorities are the economy, the economy, the economy, then there is need for a stable region, a stable neighbourhood.'
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
The United States and China have agreed to expand military exchanges and exercises as part of efforts to build more stable bilateral ties amid tensions over cyber security.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Earlier, United States Secretary of State Rex Tillerson urged the international community to increase pressure on North Korea, saying that failing to do so would bring 'catastrophic consequences'.
'The world is finally recognising that China is pushing a form of government that many only now are beginning to recognise as problematic'
The United States is keen to work with India on security, political and economic issues and President Barack Obama's visit represents the future of American engagement with a strong player within Asia and the global stage, the White House said on Wednesday.
The Agency said it has delivered the required certification notifying Congress of this possible sale on Thursday.
The US intends to break up India's strategic partnership with Russia and to continue to interfere in Indian-Iranian relations, apart from inserting itself into the Sino-Indian bilateral discourse, says Ambassador M K Bhadrakumar, analysing the US defence secretary's visit to India.
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
Such businesses outperform non-family firms by 3% in first six months of CY20, says Credit Suisse report.
'Both Russia and the USA seek New Delhi's friendship, because for both -- Russia and the USA -- India is a certain counterbalance to China.'
Pompeo will travel to India, Sri Lanka, Japan and South Korea from June 24 to 30. His four-nation is aimed at deepening US partnerships in the strategic Indo-Pacific region.
'Having India as a credible deterrent vis-a-vis Chinese ambitions in the Indian Ocean and South Asian region is a desirable short-term outcome.'
Walter Lohman, director of Asian Studies Centre at the Washington, DC and former policy aide to Senator John McCain, said India's role in America's effort to maintain its commitment to ensuring the peace, security, prosperity, and freedom in East Asia was relatively minor.
China's move to devalue its currency has exposed the fragility of its economy.
'What gives hope is that Modi's own leadership is vitally linked to his capacity to deliver on the economic front. Indeed, if he succeeds, India's foreign policies will have changed beyond recognition,' feels Ambassador M K Bhadrakumar.
The BJP still does not have a majority in Upper House of Parliament, the Rajya Sabha, and this will pose hurdles to the party's legislative reform agenda
The pitch comes close on the heels of China launching its multi-billion dollar OBOR initiative
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
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