|
|
|
'India may be the primary bright spot among several large economies'
|
|
|
|
Top Stories |
|
|
|
|
IANS | 20 Jan, 2023
Adani Group Chairman Gautam Adani has said that India is advantageously
positioned away from frozen slippery slopes and may be the primary
bright spot among several large economies.
In his
remarks at the WEF event in Davos, Adani said: "Our multi-vector,
non-partisan approach has ensured that we are well-respected and have
become one of the leading voices batting for the emerging economies. The
growing prominence was very visible during the forum, with widespread
participation by Indian companies and government officials."
"The
World Economic Forum has a challenge. Be it the ease of availability of
information, live streaming making it more comfortable to watch and
multitask, climate change leading to less snow on the slopes, nervous
travellers, and a war that has no end in sight � all of this is leading
to a loss in momentum for what used to be the premier thought leadership
event in the world. Perhaps for the first time ever, the only G7 leader
present was the German Chancellor," he said.
"The surest sign I
noticed was the easy availability of seating in any restaurant that we
walked into. We were welcomed with open arms as against being told that
we should reserve a year ahead (Yes � this is what we were told at
pre-Covid Davos!). That being said, there can be no denying the fact
that Davos is still a huge draw and fast morphing into a premier
business networking conference," Adani said.
"Going into WEF' 23,
I was surprised to read about massive layoffs by the 'infallible' tech
industry and economists' warnings about the global recession in the
third quarter of 2023. These days, the quality of the economists'
predictions is as good as my skiing skills. Both are on slippery slopes.
"Besides
the ongoing geo-economic fragmentation and weaponisation of economic
policies, we are witnessing the Great Fracture (a term coined by the UN
Secretary General) � the decoupling of China and the US, which has
massive knock-on global consequences and will severely dilute economic
globalisation," Adani added.
All this means that conventional
trade patterns will transform as the parts of the western world attempt
to reduce their reliance on both Russia and China. Needless to say, this
becomes an opportunity for India and other ASEAN countries to benefit
from the diversification of supply chain risks that can be expected,
Adani said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|