India’s next economic surge
Published 23 July 2024
India is poised for another growth boom in the coming years, fueled by improved infrastructure, increased financial inclusion, and less red tape, yet it remains a difficult place to do business, says Manu Bhaskaran, founding CEO at Centennial Asia Advisors.
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India has experienced periodic growth spurts but lacks the sustained high growth needed to surpass China. Challenges such as goods trade deficit and limited participation in global value chains continue to pressure its currency and constrain economic expansion. However, steady growth in modern value-added services, infrastructure development, and a young population make India an attractive destination for foreign investment, which is seen as a ‘shortcut’ to inclusive growth. Foreign investments play a crucial role in establishing robust supply chains and increasing export competitiveness. Manu Bhaskaran highlights the need for India to leverage the on-going global economic shifts by attracting investments to strengthen its manufacturing capabilities and maintain high growth levels.
About the NPF International Trade Fellowship 2024
The National Press Foundation holds an annual International Trade Fellowship workshop for journalists, sponsored by the Hinrich Foundation. This year, the Foundations welcomed 25 Asia-based journalists at the Hinrich Foundation’s office in Singapore. The sessions, held in June, focused on the impact of US presidential elections on trade, digitization of trade, Asia’s evolving role in global trade, and more.
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