EVEN AS THE WORLD was making peace with the Russia-Ukraine conflict, and the global economy showing signs of recovery, the Israel-Hamas war has opened up new worries. The Ukraine war has resulted in a sharp rise in crude oil and commodity prices, further slowing the growth of the world economy.
The International Monetary Fund’s (IMF) World Economic Outlook Update, that released recently, says forces, including the long-term consequences of the Covid-19 pandemic, the war in Ukraine, and increasing geo-economic fragmentation are holding back the recovery. It predicts the global economy to grow at 3 per cent in 2023, which could slow to 2.9 per cent in 2024.
The economic repercussions of the Israel-Hamas war are still playing out, but India is unlikely to go unscathed. “The overall global economic conditions remain a concern. The world cannot manage two wars at once,” says N.R. Bhanumurthy, Vice Chancellor of Dr. B.R. Ambedkar School of Economics University, Bengaluru, adding that any worsening of global economic conditions would impact the Indian economy.
For India, which has already been dealing with inflation, the Israel-Hamas war has brought fresh concerns. Finance Minister Nirmala Sitharaman, during her recent visit to Morroco to attend the IMF-World Bank Annual Meeting and G20 Finance Ministers and Central Bank Governors meeting, highlighted that the Middle Eastern crisis, fuel prices and fragmentation of global supply chains remain major concerns for emerging markets.
Bu hikaye Business Today India dergisinin November 12, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today India dergisinin November 12, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
What The Future Holds For Amazon India
The E-commerce Giant Has Seen Steady Growth Since Its Entry Into India In 2013, But The Offline Piece Remains A Challenge. After Losing Out On The Future Retail Acquisition, How Does It Plan To Keep The Growth Engines Revving?
Time To Unshackle?
Young India Is Obsessed With Apps. But The Gateway To Them Is Closely Guarded By Two Tech Behemoths-google And Apple-who Control 99% Of The Market In India. Is It Time For India To Break Free From This Duopoly And Have Its Own App Store?
"Understand what drives key talent"
Novartis India is a part of the Basel, Switzerland-headquartered pharma major Novartis AG
MILLENNIALS MISSING HOME
SKY-HIGH PROPERTY PRICES, COUPLED WITH SLOW INCOME GROWTH, HAVE MADE THE DREAM OF OWNING A HOME A DISTANT ONE FOR MANY MILLENNIALS. THIS COULD LEAD TO STAGNATION IN SOCIAL MOBILITY AND POTENTIALLY DEEPEN EXISTING SOCIAL INEQUALITIES
SIGNATURE MOVE
SIGNATURE GLOBAL, A LEADER IN AFFORDABLE HOUSING, IS LOOKING TO GET BACK IN THE BLACK WITH A SHIFT IN FOCUS TO MID-SEGMENT AND PREMIUM HOUSING AFTER LOW-COST PROJECTS BECAME UNVIABLE FOR DEVELOPERS
MAKING A MARK
PHARMA MAJOR GLENMARK IS STRATEGICALLY PLOTTING ITS WAY UP, ALL BY SHIFTING ITS FOCUS TO BRANDED AND SPECIALITY MEDICINE AND ENSURING IT GETS ITS R&D RIGHT
DIGITAL DICHOTOMY
Where does one draw the line between protecting consumer interests and maintaining market freedom? Industry and experts are debating this even as the Digital Competition Bill seeks to rein in Big Tech firms in India, the world's second-largest internet market
"ChatGPT helped people understand the benefits of using AI"
Humane Inc. Co-founders Imran Chaudhri and Bethany Bongiorno on AI, their product, the company's vision, and more
ON THE FAST TRACK
THE DEDICATED FREIGHT CORRIDORS (DFC) NETWORK OF THE INDIAN RAILWAYS HAS STARTED ATTRACTING MORE FREIGHT PLAYERS. FROM CONNECTING MAJOR PORTS TO CRISS-CROSSING MULTIMODAL LOGISTICS PARKS, DFCS ARE SET TO BE A GAME CHANGER FOR FREIGHT SERVICES IN INDIA
WE HAVE A MODEL MADE IN INDIA, FOR INDIA, AND BY INDIA"
Manish Tiwary, Country Manager of Amazon India, on the opportunities in the country, digital, and more