The spate of downgrades for India’s projected growth rate continues, the latest being IMF that reduced India’s expected growth in 2021-22 substantially from 12.5 percent to 9.5 percent. This follows a massive contraction of the economy by 7.3 percent in the last fiscal year. This, obviously, raises a concern about the speed of recovery of the economy in the short run. However, there is also a big concern about the long-run prospects of the economy that we cannot brush away.
Can low cost manufacturing deliver for India as it has for China?
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Published: August 28, 2021