Amid the global economic gloom, triggered by a slowing Chinese economy, most economists maintained that India's growth prospects were brighter than those of other emerging markets.
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Panagariya said in his view the developments in China and their knock-on impact were better categorised as 'turmoil' than as a 'crisis'.Panagariya said this presented a huge opportunity for India.
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India stands to benefit from China's slowdown thanks to its resilient consumer spending and improving macroeconomic fundamentals.
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Elephant vs dragon: In graphic
China's economy is slowing sharply, creating a risk for the global economy. (Illustration: Anirban | Graphic: Jayeeta)
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Seeing an opportunity in the recent turmoil in global equity and currency markets, finance minister Arun Jaitley on Thursday said India, with 8-9 per cent growth rate, can replace China as the driver of world economy.
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Reserve Bank of India Governor Raghuram Rajan tells us why it is different this time, and how India is no more in the club of the 'Fragile Five' or 'Troubled 10.'
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Amid the global economic gloom, triggered by a slowing Chinese economy, most economists maintained that India's growth prospects were brighter than those of other emerging markets.
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Asserting that the global market turmoil was not a cause of ‘worry’ for India, Finance Minister Arun Jaitley said the crisis should be converted into an ‘opportunity’ to grow by speeding up the reforms.
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Rating agency Moody's Investor's Service has said that India's macro- economic indicators have improved over the last few years which will help the country withstand volatility in global capital flows in coming months.
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No need to panic, India to gain from global adjustment, says MoS Jayant SinhaIn an exclusive interview to TOI, Sinha talks about India's robust growth prospects and the reform drive undertaken by the government.
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After its worst single-day rout (in absolute terms) of 1625 sensex points and a sharp rupee depreciation of 82 paise against the dollar, both stocks and currency bounced back on Tuesday,gaining 291 points and 55 paise respectively.
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With China's economic woes engulfing the world economy, the government has swung into action and Prime Minister Narendra Modi is expected to seek advice of economists and businessmen at a brainstorming session over the weekend to work out a roadmap to strengthen India against any possible turbulence.
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China's economy is slowing sharply, creating a risk for the global economy. Its debt is pegged at 282% of GDP by some estimates. And that is just one of its problems.
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भारत में इकॉनमी की हालत अच्छी दिख रही है। इस पर असर डालने वालीं तेल और अन्य चीजों की कीमतें भी फेवरेबल दिख रही हैं।
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कमजोर होते हुए रुपये ने सरकार को भले चिंता में डाल रखा हो पर प्रवासी भारतीयों के लिए यह जश्न का मौका है!
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