Sunday November 18, 2018
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China slowdown won’t impact India: Jaitley

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New York: India’s Finance Minister Arun Jaitley has said that the slowdown in the Chinese economy is not going to impact his country and India could become the “additional shoulder” the global economy needs to stand on.

“We are not a part of the Chinese supply chain,” he said here Monday. Therefore, “we are not impacted.”

He said that China’s slowdown did, however, affect Indian stock markets and the currency. But he did not see the fallout from China extending beyond them.

China, which had played a role in world economic growth, was now having an adverse effect globally, he said. After China “the world needs additional shoulders to stand on” and India could provide them he added.

Jaitley was speaking Monday at the inauguration of the Deepak and Neera Raj Center on Indian Economic Policies at Columbia University.

The global economic situation will be a challenge for India because it was beyond its control, he said. “The new normal is living in a period of turbulence and volatility,” he said. International crises used to come up every ten years or so, but now they were occurring more frequently, he added.

 

(IANS)

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Xiaomi Drops Down Smartphone Prices in India

This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 per cent to the overall mobile phone market

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Xiaomi
Xiaomi cuts prices of 5 smartphones in India.

Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India, a day after the International Data Corporation (IDC) declared that the company was the market leader in the third quarter of 2018 in the country.

“We are delighted to share that we have seen a reduction in component costs of some of our best-selling phones. We were announced as the number one smartphone vendor in India for the fifth consecutive quarter, as per IDC Quarterly Mobile Phone Tracker.

“As a celebration of that, Xiaomi is announcing price cut for five smartphones,” the company said in a statement.

Xiaomi
Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India.

The 4GB+64GB variants of Redmi Note 5 Pro, Mi A2 and Redmi Y2 are now available for Rs 13,999, Rs 15,999 and Rs 11, 999, respectively while the prices of 6GB+128GB variants of Redmi Note 5 Pro and Mi A2 have dropped to Rs 15,999 and Rs 18,999, respectively.

According to the IDC report, the Chinese handset maker shipped 11.7 million units and became the top brand in the Indian market with 27.3 per cent share in the third quarter this year.

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This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 per cent to the overall mobile phone market. (IANS)