India, once touting its exceptionalism, is facing economic challenges resembling China's model. With private consumption crawling at 4.4%, sluggishness is evident, and unsecured personal loans surge. Prime Minister Modi's focus on capital stock is reminiscent of China's investment-heavy approach. However, doubts persist about trickle-down effects benefiting the surplus labor. As India's GDP lags pre-pandemic levels, the job market narrows, impacting incomes for a significant portion of the population. The top 20% may thrive, but broad-based consumption growth is essential for sustained economic success.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.