Indian summit

Posted: October 20, 2016 in Current affairs

‘India presented itself as a bright spot’
The article said that India successfully projected itself as the fastest growing economy compared to other members of the BRICS.
“During the summit, India presented itself as a bright spot in a bloc whose other members have been buffeted by economic headwinds to varying degrees. With a GDP growth rate of 7.5 per cent in 2015 against a rather gloomy global backdrop, India has replaced China as the world’s fastest-growing large economy,” the article said.
“But India finds confidence in talking about economic matters. After all, the setbacks undergone by its fellow countries made India’s recent economic achievements shine even brighter in comparison,” it said.
“Although India’s domestic reforms have only made limited inroads in key areas such as land acquisition and labour regulation, an aspirant [Prime Minister Narendra] Modi equipped with newly-gained confidence on India’s growth prospects has clearly made the country more proactive,” it added.

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