The surge in industrial activity has transformed Mumbai into a commercial hub in recent years. / Photo: AP Archive
Experts project that China could require five to ten years to address its debt crisis, which has been exacerbated by the pandemic. In the US exchange-traded fund market, the main fund for Indian stocks experienced a surge in investments in the final quarter of 2023, while the four largest China funds saw substantial outflows, totaling almost $800 million.
India's rapid economic growth is fueled by the consistent expansion of its stock market over the last few decades. In the past twenty years, both the gross domestic product and market capitalisation in the country have surged from $500 billion to $3.5 trillion.However, what enabled India to overtake Hong Kong was also Russia's economic decline.
On the other hand, the southern states, known for their higher prosperity and longer life expectancy, are crucial to his ambition of becoming the world's third-largest economy, as this is where factories are starting to cater to giant companies like Apple and Amazon.com." initiative aimed to raise domestic manufacturing, calling on global manufacturers seeking alternatives to China. As a result, many have opted to set up operations in the southern states.
In the 2019 national election, Modi’s Bharatiya Janata Party failed to secure any seats in three of the five southern states.
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Source: CNBC - 🏆 12. / 72 Read more »