Gautam Adani Dismisses Fears Of Fall In GDP
Gautam Adani dismisses fears of fall in GDP, says – will be the second-largest economy by 2050. Veteran industrialist Gautam Adani, while dismissing fears of a fall in GDP, said that the country’s foundation is strong and India will be the world’s second-largest economy by 2050.
According to him, India is in a better position than many countries in terms of business opportunities. In an event, the chairman of the Adani group said that the self-sufficient India program would prove to be a dice-reverser.
Adani said, ‘I would like to feel free to say that in the next three decades I think India will be the biggest business opportunity for the world. India’s geostrategic position and large market make it better than its counterparts. Opportunities will increase rapidly in India after the epidemic. ‘
Adani said that due to the global crisis, the country has suffered a setback for a short time. But because of that the possibilities and capabilities cannot be ruled out, because its foundation is still very strong. According to him, the estimation of GDP has become the mainstay for the economy.
It is not to be seen how the country can be in the next decade. As an entrepreneur, I am optimistic and that is why I see opportunities. I believe that you cannot build a long-term future based on short-term thinking.
After 50 years, there will be a slow growth in the economy of East Asia and the Pacific, around 40 million people may be poor: World Bank
The economy can grow the slowest in more than 50 years in East Asia and the Pacific region as well as China due to the Coronavirus epidemic. The World Bank has expressed its fears in its report on Monday.
Because of this, about 28 million people are facing the threat of poverty. The bank said that the sector is expected to grow by only 0.9 percent in 2020. This is the lowest rate since 1967.
Growth in China was expected to come in at 2% this year, with government spending, strong exports, and lower rates of new coronavirus infections since March, but slower domestic consumption could not.
The World Bank said a 3.5% contraction is forecast for the rest of East Asia and the Pacific. The report noted that efforts to curb the epidemic and its spread led to a significant ‘improvement’ in economic activity.
According to the report, these countries will have to pursue financial reforms to raise revenue to overcome the economic and financial impact of the epidemic. Also, social security programs can help bring the integration of workers back into the economy.
The report states that countries with well-functioning social security programs and good implementation infrastructure are able to get out of it more quickly and on a larger scale.
