The Indian government, led by the NDA, plans to release a White Paper on the mismanagement of the economy prior to 2014. This decision was announced by Finance Minister Nirmala Sitharaman during her Interim Budget speech. The White Paper aims to examine the state of the economy before 2014 and draw lessons from the mismanagement during that period. The Indian economy has made significant progress in recent years, with improved health of the banking sector, increased credit growth, and infrastructure development. The government aspires to achieve a $7 trillion economy by 2030.
Expectations of global growth are improving, but the rebound remains fragile. Read on to know more about the current state of the global economy.
US and European firms are redirecting their investments away from China to other developing markets, with India being the top recipient. This shift highlights concerns over China’s business environment, economic recovery, and politics that weigh on the minds of foreign investors. The value of US and European greenfield investment in India has increased significantly, while investment in China has significantly reduced. While diversification is underway, it will take years for advanced economies to achieve their objectives of reducing exposure to China due to its crucial position in global supply chains.
GAIL, the state-run utility, is scouting for a stake in LNG projects in the US and long-term supply deals as it expects gas transmission volumes to rise. The company plans to invest in expanding its pipelines, city gas network, and petrochemicals capacity. GAIL has teamed up with Greenline to use LNG for heavy-duty commercial vehicles. India will contribute 10% of the incremental global growth in petrochemicals. GAIL recently acquired JBF Petrochemicals Ltd and is setting up a specialty chemicals plant.
