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Indian economy full of potential: Chinese expert

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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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India Says Pakistan’s Links with Pulwama Attack Clear For All to See

He said while there are claims to offer dialogue from Pakistan, it continues to shelter terror outfits

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Arun Jaitley
"The most favoured nation status which has been granted to Pakistan stands withdrawn.", says Jaitley. Pixabay

India has rejected Pakistan Foreign Secretary Tehmina Janjua’s claims denying her country’s links to the Pulwama terror attack, saying that JeM, which claimed responsibility for the attack on Thursday, is based in Pakistan, and the “links are clear and evident and for all to see”.

The External Affairs Ministry spokesperson on Friday termed as “preposterous” the demand for an investigation, saying there is a video of the suicide bomber declaring himself a member of the terror group Jaish-e-Mohammed (JeM).

The spokesperson said India has not seen any constructive approach from Pakistan on bilateral relations and it has been sheltering terrorists and terror organisations such as JeM. He said Islamabad has not taken any action against such groups despite international demands.

India also demanded that Pakistan take immediate and verifiable action against terrorists and terror groups operating from territories under its control to create a conducive atmosphere in the region free of terror.

The spokesperson’s response came over Pakistan Foreign Secretary’s briefing rejecting Pakistan’s involvement in the terror attack on a paramilitary convoy in Jammu and Kashmir that killed at least 45 troopers. Janjua met envoys of P-5 countries late on Friday.

The spokesperson said JeM has claimed responsibility for the attack.

The Ministry of Foreign Affairs said in a statement that the attack was a matter of “grave concern” and it had been condemning “heightened acts of violence in the (Kashmir) Valley”. Pixabay

“The organisation and its leadership are located in Pakistan. LeT and other terror groups have welcomed the news of the attack. These groups are also based in Pakistan. Pakistan cannot claim that it is unaware of their presence and their activities.

“They have not taken any action against these groups despite international demands, especially against groups and individuals proscribed by the UN and other countries. The links to Pakistan are clear and evident for all to see. Its own Ministers have shared the same podium with UN proscribed terrorists,” the spokesperson said.

He said there was audio-visual material linking JeM to the terror attack.

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“The demand for an investigation is preposterous when there is a video of the suicide bomber declaring himself a member of the JeM. There are also other audio-visual and print material linking JeM to the terrorist attack. We have therefore no doubt that the claim is firmly established,” the spokesperson said.

He said while there are claims to offer dialogue from Pakistan, it continues to shelter terror outfits.

“We have not seen any constructive approach from Pakistan on relations with India. What we have noticed however, are claims to offer dialogue on the one hand, while sponsoring and sheltering terrorists and terrorist organisations such as JeM on the other,” the spokesperson added. (IANS)