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As The Election Nears, India’s Opposition Promises Several Economic Steps

Modi said at the Delhi convention that the opposition was working on a "desperate alliance," while the BJP would give a "strong government."

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Rahul Gandhi, Election
Rahul Gandhi, president of India's main opposition Congress Party, speaks at a rally ahead of October's 150th birth anniversary of Mahatma Gandhi, in Dubai, United Arab Emirates, Jan. 11, 2019. VOA

India’s main opposition Congress Party will simplify the goods and services tax (GST) and make “rational economic decisions” to attract foreign investment if voted back to power in a general election due by May, leader Rahul Gandhi said Saturday.

Launched in 2017, the GST was initially hailed as Prime Minister Narendra Modi’s biggest economic reform as it replaced more than a dozen federal and state levies and unified Asia’s third-largest economy.

But its chaotic implementation and complexities — months after a shock ban by Modi on high-value bank currency aimed at unearthing untaxed wealth — badly hurt small businesses and led to millions of job losses in the cash-driven economy, presenting the biggest challenge to Modi’s re-election chances.

India,India, elections, BJP
India’s Congress party President Rahul Gandhi displays documents in New Delhi, India. VOA

 

Gandhi, scion of India’s Nehru-Gandhi dynasty, said during a visit to Dubai that foreign investment was at a multiyear low in India because of the “ill-advised and badly thought out economic moves” such as the currency ban and a “poorly designed GST.”

Quick growth promised

“We will take some rational economic decisions,” he told a press conference, which was broadcast live on Twitter. “We will restructure the GST and we will embrace investments from the Middle East and other parts of the world. We are the party of [India’s economic] liberalization; we are the party that gave the fastest economic growth in the first decade of the century, and will do that again.”

He said his main priority would be to create jobs, simplify the GST, rebuild confidence in institutions such as the Reserve Bank of India — whose governor resigned recently after a fight over autonomy with the government, and the Supreme Court.

Modi, election
Indian Prime Minister Narendra Modi, center, is garlanded by BJP leaders on the first day of the two-day Bharatiya Janata Party national convention in New Delhi, Jan. 11, 2019. VOA

 

Four Supreme Court judges held a rare press conference early last year, saying that “unless this institution is preserved and it maintains its equanimity, democracy will not survive in this country.”

Modi told a BJP convention in New Delhi on Saturday that for Congress “every institution was wrong and only they were right.”

The Congress press conference was organized by the Indian Overseas Congress, which is present in about 35 countries, as Gandhi tries to reach out to rich Indians living abroad for funds and social media support for the party that has dominated the country’s politics for decades before being nearly decimated in the last general election in 2014 by Modi.

But back home, Gandhi received a jolt when bitter rivals, the Bahujan Samaj Party (BSP) and the Samajwadi Party (SP), announced an election tie-up without Congress in Uttar Pradesh state, which sends the highest number of lawmakers to the lower house of parliament.

Narendra Modi, India, election
Elaborate preparations for PM’s election rally. VOA

“The BSP and SP have made a political decision,” Gandhi said. “It’s on us on how to strengthen the Congress Party in Uttar Pradesh and we will fight with our full capacity. Whether we do or their alliance does, the BJP is not winning there.”

Also Read:China, India Keen on Joint Ventures For e-vehicles

Modi said at the Delhi convention that the opposition was working on a “desperate alliance,” while the BJP would give a “strong government.”

The Hindu nationalist BJP lost power in three key states recently, forcing the government to announce a flurry of measures to woo small businesses and the less well-off since then. (VOA)

Next Story

Canon India Ramps Up Efforts To Grab Healthcare Imaging, Security Market

On the camera front, India offers great opportunities in segments like wedding, wildlife, sports and media

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Canon India also showcased EOS-1D X Mark III - the flagship product from the Canon EOS range, featuring latest advancements and innovations in digital imaging technology. Wikimedia Commons

After cementing its position across four key business verticals — camera, home printers, office printers and commercial printing solutions — Canon India is now ramping up its effort to top the growing healthcare imaging and security surveillance market in the country, a top company official said here on Wednesday.

After grabbing a substantial share in the Indian market in the professional printing segment which has been among the fastest growing verticals for Canon in India, the company now eyes diagnostic imaging market which is witnessing a tremendous growth with new super-specialty hospitals and diagnostic centres being opened at a fast pace, including in the tier II and II towns.

“In 2020, our key focus areas will be medical and security verticals in India. There have been a strong demand in the field of diagnostic imaging like MRIs, CT scans and X rays in the recent past which, we think, is an important segment for us in this country going forward,” Kazutada Kobayashi, President and CEO, Canon India, told IANS.

Although India will be the youngest country in the world by 2020 with a median age of 29 years, the number of elderly people is likely to increase significantly after that, according to the “State of Elderly in India” report.

By 2021, the elderly population will reach 143 million.

Canon
After cementing its position across four key business verticals — camera, home printers, office printers and commercial printing solutions — Canon India is now ramping up its effort to tap the growing healthcare imaging and security surveillance market in the country. Wikimedia Commons

According to market research firm Mordor Intelligence, the increase in life expectancy over the years has resulted in an increase in the population of the elderly. Hence, the growing geriatric population is expected to augment the demand for diagnostic imaging equipment.

The global medical imaging market was approximately $34 billion in 2018 and is expected to generate around $48.6 billion by 2025, according to Zion Market Research, and the of a huge patient pool and rise in the number of hospitals and diagnostic centres in India, Japan and China are anticipated to fuel the medical imaging market in the Asia Pacific.

“Today, if you go to a hospital and take a picture of your chest, that needs to be printed on a film. We propose to print that on a paper. This is my economical and environmental-friendly vision,” said a beaming Kobayashi on the sidelines of the launch of its flagship camera EOS-1D X Mark III.

According to him, security is another big area to focus on.

“Security surveillance camera systems have come of age and at Canon, we are aiming to make a revolution in this area soon,” said the executive.

Canon’s business in India is divided between business-to-consumer (B2C) and business-to-business (B2B) verticals.

The B2C category includes camera and home printers while B2B includes commercial printers and sales to corporates and MSMEs.

Canon India also showcased EOS-1D X Mark III – the flagship product from the Canon EOS range, featuring latest advancements and innovations in digital imaging technology.

“On the camera front, India offers great opportunities in segments like wedding, wildlife, sports and media. One great observation is that the demand for high-end cameras is also coming from smaller Indian towns and we are excited about this,” said C. Sukumaran, Director, Consumer Systems Products and Imaging Communication Products, Canon India.

Priced at Rs 575,995 (taxes included) for the body, including 512GB CF Express Card and Reader, the EOS-1D X Mark III will be available mid-February onwards at select retail outlets across the country.

The EOS-1D X Mark III offers an unmatched continuous shooting speed up to 16fps with viewfinder shooting. It houses a newly developed 20.1MP Full Frame CMOS sensor.

canon
After grabbing a substantial share in the Indian market in the professional printing segment which has been among the fastest growing verticals for Canon in India, the company now eyes diagnostic imaging market which is witnessing a tremendous growth with new super-specialty hospitals and diagnostic centres being opened at a fast pace, including in the tier II and II towns. Wikimedia Commons

“The newly developed algorithms in the camera enable not just eye detect and face detect autofocus but also head detect autofocus. This allows highly precise autofocus and tracking even in challenging conditions and with multiple and rapidly moving subjects,” informed Sukumaran.

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According to Kobayashi, the high-end camera will further enable the company promote the photography culture in India.

“Our latest offering will cater to the growing list of professional photographers in India and open up newer possibilities in the imaging space,” he added. (IANS)