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India to grow at faster rate than China, macroeconomic outlook remains stable, says UN report

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By NewsGram Staff Writer

This year, India will surpass China with an expected growth of  7.7 per cent, a jump of almost 1.5 per cent from the projection made in January, according to a new UN report.

“India is now projected to grow by 7.6 per cent in 2015 and 7.7 per cent in 2016, surpassing the growth of China,” said the United Nations Department of Economic and Social Affairs(UNDESA) report.

Earlier in January, the UNDESA report had stated that the GDP of India will be 6.2 in this year.

“This revision, mostly reflects a higher growth trajectory in India, where the recent changes in methodology and data sources have resulted in a considerably higher official growth figures for the past two years,” said the latest report.

The recent UN report concurred with reports from other international companies like World Bank and the International monetary fund(IMF), that India will have a faster growth rate in the future.

“Overall, I think the authorities in India have done a very good job over the past two years and this is actually reflected in some indicators,” Ingo Pitterle, a UNDESA Economic Affairs Officer and India expert said.

“In 2013 India was grouped among the fragile economies of Turkey, South Africa, Indonesia and Brazil. And now, you look at the same variables, they look very different,” Pitterle said.

“When you look at the currencies side, the Indian Rupee is the only currency that has held up well here, which is a sign of confidence by investors and the international community in the Indian economy”, he said.

The report also pointed out to string of factors to give a clear view that India was having a very sustainable economic condition.

“The rupee has done better than most currencies, inflation is down, monetary policy is prudent, current account deficit has declined, external imbalances have reduced and oil prices have softened”, the report said.

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OPPO Grabs the Position of 3rd Most Trusted Smartphone Brand in India

In addition, while Dell has emerged as the most trusted brand in India this year, OPPO has also secured an overall 28th rank in TRA’s Brand Trust Report, 2019

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Innovation, OPPO Reno 10x Zoom
The pop-up selfie mechanism itself is, however, not new. Wikimedia Commons

Chinese smartphone player OPPO on Tuesday announced that the brand has secured third spot in the most trusted smartphone brand in India, according to a report by Mumbai-based analytics firm Trust Research Advisory (TRA).

According to TRA’s Brand Trust Report 2019, OPPO climbed up seven ranks to secure this year’s third spot in the top 10 smartphone brands in India.

Incorporating advanced technologies like motorised camera, 10X Hybrid Zoom, fast charging, in-display fingerprint scanner and bezel-less display even in the budget segment, smartphones have helped the company retain its spot in the top brands, the company said in a statement.

With one of its biggest Research and Development centres in Hyderabad, OPPO plans to intensify its business in India.

Innovation, OPPO Reno 10x Zoom
Chinese handset maker OPPO, which has been known to be experimental with its smartphone designs has just launched its flagship smartphone Reno 10x Zoom. Wikimedia Commons

The company also houses its state-of-the-art manufacturing facility in Greater Noida.

In addition, while Dell has emerged as the most trusted brand in India this year, OPPO has also secured an overall 28th rank in TRA’s Brand Trust Report, 2019.

Also Read- Laptops from Huawei Re-appear on Microsoft Store

OPPO was recently recognised as the most-preferred innovative handset brand in the premium segment, as per an independent study conducted by the analyst firm CyberMedia Research (CMR), the company added. (IANS)