India will again become one of the world’s fastest growing economies this year for the second year in a row, with a growth rate that could even double the forecast for China (4.4%). International Monetary Fund (IMF) The Indian economy is expected to grow by 8.2% in a scenario that is not without risks.
There are two points that concern him particularly closely: on the one hand, the uncertainty caused by the invasion of Ukraine, which also caused a sharp increase in food and fuel prices, and this means what it means for the most vulnerable population; on the other hand, sea traffic jams caused by anti-covid measures in Shanghai, the world’s main container port. This is economically. Politically, India’s neutrality towards Russia could also cause additional tension.
Government Narendra Modi It does not have a simple panorama ahead. The country’s strong growth remains highly uneven. The Indian press highlights that even though job creation and incomes have made a dramatic comeback in sectors such as information technology, millions of people who lost their livelihoods during the pandemic are still struggling to survive.
In the midst of a food crisis caused by the war in Ukraine and sanctions against Russia, India has offered to increase wheat exports. The problem is that the country faced the consequences destructive heat which forced his government to explore the possibility of limiting the sale of cereals abroad. Recently Department of Agriculture lowered the estimate of wheat production this season to 105 million tons. This figure is lower than the previously forecast record of 111 million tons and 109.6 million tons produced a year earlier.
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