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Indian economy full of potential: Chinese expert

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credit: www.archive.india.gov.in
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By NewsGram staff writer

Beijing: The Indian economy is full of potential, but how to ensure real growth will test “the wisdom of leaders,” said Zhao Gancheng, Director of Center for Asia-Pacific Studies, Shanghai Institutes for International Studies, in a state-run daily.

An opinion piece ‘Can India benefit from Chinese economic slowdown? Think twice in the Global Times on September 7 remarked that the Indian Prime Minister Narendra Modi had set his focus on the economy since he took office.

“New Delhi also holds the ambition of replacing China as the new global factory. The slowdown in the Chinese growth rate seems to offer India a good chance to reach the goal,” said the Chinese expert Gancheng.

Zhao claimed that it raises the question of the nature, relevance and interactions of the Chinese and Indian economy.

“Many analysts correctly point out that the two economies started nearly at the same level in 1980s until the early 1990s, when the per capita GDP was almost the same. But in the next two decades, the fast growth of Chinese economy has widened the gap,” reported the opinion piece.

Pointing out the factors that have affected the Indian economy, the article said, “the most important reasons lie in their policy options and domestic development rather than external environment or international factors. Frankly, China confronted a much harsher external situation during the period than India did.”

“The Indian economy is full of potential, and how to build it becomes a real wisdom test for leaders,” it noted. Praising the policies of Gujarat government when the PM was the state chief, the article noted that the state’s rise as a successful economic model was a clear indication of how efficient Modi has been at economic policies. It added that this brought him to the Prime Minister’s office as he showed promise of development and economic reforms.

“China, which developed consistently fast for decades, has reached a new economy level with an annual GDP as high as $10 trillion ($7,594 per capita), compared to India’s more than $2 trillion ($1,631 per capita). Given that accumulation and development, the Chinese economy has entered the ‘new normal’ in which high growth rate turns to a medium rate and the economic restructuring is well underway,” sources claimed.

Zhao said if Indian economy has to make it big, it will have to address some crucial elements in coming years and “the most important ones include the leadership’s policy options and internal interactions, which have so far not presented a very optimistic picture.”

“Although Modi has been devoted to creating an FDI-friendly environment in order to attract more investment, the results have not been as good as expected. Local interests are difficult for the federal government to coordinate and address when implementing relevant policies,” Zhao added.

The opinion piece took note of the view that although the two Asian giants didn’t compete directly, the effect that China imposes on the global economy is likely to influence the Indian economy. In this regard, whether a slowing Chinese economy will really create more opportunities for the Indian economy requires rethinking.

“…if the global economy slows down further as a part of the outcome of the Chinese economic restructuring, it would be difficult to see why a sluggish world economy would help the Indian economy anyway,” sources quipped.

(With inputs from IANS)

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COVID-19: Samsung Exclusive Stores get ‘Suraksha’ Certified

The initiative is aimed at the security and safety of customers and employees

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Samsung
Samsung exclusive stores get 'Suraksha' certified in India. Pixabay

Samsung on Friday said all of its exclusive stores have been ‘Suraksha’ certified to ensure consumer safety at a time when social distancing is the new normal.

Suraksha Store is a public private initiative to ensure safe and secure environment for consumers and store employees.

The certification will ensure that consumers feel safe and confident when they visit stores to buy smartphones and other devices.

“The initiative will ensure that consumers and employees working at these Exclusive Stores feel confident about their well-being and safety,” Mohandeep Singh, Senior Vice President, Mobile Business, Samsung India said in a statement.

According to the company, to strictly adhere to government’s social distancing guidelines, the exclusive stores are encouraging consumers to maintain a minimum distance of 1.5 metre between themselves.

samsung
A distance of 1.5 meters is to be maintained according to social distancing guidelines. (Representational Image). Pixabay

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Meanwhile, customers are encouraged to use digital contactless payments and swiping machines will be sanitized before being given to the customer to ensure the highest standard of hygiene is maintained across our Exclusive Stores.

Only a limited number of customers will be allowed within the store at any given point to avoid crowd formation, said Samsung India. (IANS)

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Apple Manages to Open Nearly Half of Retail Stores Worldwide

Apple has reopened nearly 256 retail stores globally

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Apple
Nearly half of Apple retail stores are now open globally. Pixabay

Apple has managed to reopen nearly 256 retail stores out of more than 500 worldwide, as it aims to safely restart operations.

Apple closed all its retail stores outside Greater China in March as COVID-19 pandemic spread. All the Apple stores in Greater China are now open.

“In China, and later around the world, we were one of the first companies to close our stores. In Greater China, we saw the importance of swift action — and the critical importance of social distance — to slow the virus’ spread,” according to Apple’s head of retail Deidre O’Brien.

Apple
Apple is conducting enhanced deep cleanings at their stores to prevent the spread of Coronavirus. Pixabay

“As time has gone on, we’ve continued to refine and expand our in-store health and safety measures, which have proven so effective in places like Greater China, where our stores have been safely open for months,” he added.

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Apple is taking some additional steps in most places. Throughout the day, Apple is conducting enhanced deep cleanings that place special emphasis on all surfaces, display products, and highly trafficked areas.

“Face coverings will be required for all of our teams and customers, and we will provide them to customers who don’t bring their own. Temperature checks will be conducted at the door, and posted health questions will screen for those with symptoms — like cough or fever — or who have had recent exposure to someone infected with COVID-19,” O’Brien elaborated. (IANS)

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80% Cases of COVID-19 in India Exhibit Nil or Mild Symptoms: Health Minister

Health Minister Harsh Vardhan says that nearly 80% of COVID cases in India are asymptomatic

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Harsh-Vardhan Symptoms
Health MinisterHarsh Vardhan said that almost 80% COVID-19 cases are asymptomatic. Wikimedia Commons

Union Health Minister Harsh Vardhan on Thursday said almost 80 per cent of the COVID-19 cases in India are asymptomatic or at best with very mild symptoms, according to Covid-19 pandemic in India updates.

In an exclusive interview to IANS, the Health Minister said, “Even today, in almost 80 per cent of the cases of COVID-19, which are being reported in India, the patients tend to exhibit either nil or mild symptoms. These patients are mostly contacts of confirmed cases. Interestingly, had it not been for our contact tracing efforts, and if left to their own in isolation, these patients may not have even remembered or reported their infection.”

Harsh Vardhan, who has recently been elected the chief of WHO’s Executive Board, was answering a query on whether asymptomatic patients who are potential virus carriers and who can take the virus deeper into rural India are causing worry to the government.

He said, “I am aware about WHO’s mention of some laboratory-confirmed cases that are truly asymptomatic. It is equally true, that as on date, there has been no documented asymptomatic transmission.”

However, he added that recently, more symptoms like headache, muscle pain, pink eye, loss of smell, or loss of taste, intense chills, rigors and sore throat have been included in the list of COVID-19 symptoms by Centers for Disease Control and Prevention (CDC) of the United States. “It will require more studies before these symptoms are finally included in our list in India,” he quipped.

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Recently, more symptoms like headache have been included in the list of COVID-19 symptoms. Pixabay

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He added that the new symptoms were very subjective and vague which might go unnoticed, might not be remembered by the patient and, thus, might even go unreported. “Moreover, if for a moment we talk of testing such asymptotic patients, identification of all these asymptomatic cases will require repeated testing of 1.3 billion population which is a resource expensive exercise for any country and is neither possible nor recommended,” the Health Minister said.

He emphasized on priority-based and targeted testing and said that it will be helpful in detecting more cases of COVID-19 and curbing the disease. “With our efforts at sustained and quality assured scaling up of the testing facilities, I am sure, we shall be better placed for maximum case detection,” he concluded. (IANS)