India's economic growth efforts could get the tailwinds from its geopolitical position, said S&P Global Ratings in a report on the country's quest for stable and high economic growth.
"Geopolitics can potentially provide considerable tailwinds for India’s growth efforts. The country is in a good geopolitical position, which will help it benefit from supply chain diversification and reshoring. This will likely bolster other growth-enhancing strengths, particularly competitiveness," the report said.
In the same vein, the report added that the, geopolitical volatility can be a challenge.
"India is pursuing a pragmatic approach, cooperating and competing to serve its national interest. This means it is navigating changing partnerships and an evolving landscape. Deglobalisation and protectionist measures will also create some headwinds for exports. Trade partnerships could help to mitigate some of these effects," the report notes.
According to S&P Global Ratings, the macro challenge for India in the upcoming decade is to turn traditionally uneven growth into a high and stable trend. Given structural differences with East Asian economies, India will need to follow its own unique path.
Capital accumulation will drive India's economy toward this desirable path, with the government and, increasingly, the private sector investing in infrastructure and manufacturing.
Digital infrastructure is another potential driver of high growth.
"Success will ultimately depend on India's ability to reap its demographic dividend; increase labour force participation, including upskilling; boost private investment, with structural reforms in land, logistics and labour; and increase competitiveness, driven by foreign direct investment," the report said.
64 pc of Kolkata’s iconic taxis to be off the roads by March 2025
Over 64 per cent of the iconic yellow taxis in Kolkata will be off the roads by March 2025 due to the 15-year service limit imposed by the state transport department.
Delhi BJP releases 'chargesheet' against Kejriwal, AAP govt
The Delhi BJP on Monday released a political "chargesheet" against AAP National Convenor Arvind Kejriwal and his party, enlisting alleged failures of the Delhi government over the last 10 years and instances of corruption involving ministers.
New Maha Cabinet: Fadnavis keeps Home, Shinde gets Urban Development, Ajit Pawar in charge of Finance
Finally, the wait is over. Governor CP Radhakrishnan on Saturday approved the portfolio allocation to the ministers as recommended by Maharashtra Chief Minister Devendra Fadnavis. The list was released after the conclusion of a weeklong winter session.
India a natural trade and commerce partner of Kuwait: PM Modi
India has been a natural trading partner of Kuwait and continues to be so in contemporary times and people-to-people linkages over centuries have fostered a special bond of friendship between the two countries, Prime Minister Narendra Modi said on Saturday.
PM Modi's visit to labour camp in Kuwait underscores government's resolve for welfare of Indian workers abroad
Prime Minister Narendra Modi on Saturday interacted with a cross-section of Indian workers during his visit to a labour camp in Mina Abdullah area of Kuwait, his first official programme after arriving in the West Asian nation on a historic visit, earlier in the day.
Three semiconductor units to be set up in NE will create 80K jobs: HM Shah
Union Home Minister Amit Shah on Saturday said that the Union Cabinet recently decided to establish three semiconductor units in the northeast for the development of the semiconductor and display manufacturing ecosystem which would create 20,000 direct jobs and 60,000 indirect job opportunities.
Indian diaspora, 101-year-old former IFS officer greet PM Modi on arrival in Kuwait
The Indian community gave a rousing reception to Prime Minister Narendra Modi as he arrived at his hotel in Kuwait City on Saturday afternoon, shortly after he touched down in the Gulf nation, kicking off his historic two-day visit, the first by an Indian PM to the country in 43 years.
HM Shah urges NE CMs to give more thrust to foiling the danger of drugs
Union Home Minister Amit Shah on Saturday urged the Chief Ministers of eight northeastern states to give more impetus to curbing the smuggling and other menaces of drugs in the region.