According to Linda Yueh's article On the Prosperity of Countries, emerging and developing economies for the first time account for a larger share of world GDP or global output than developed economies. Excerpts from the article: The World Bank estimates that of the 101 middle-income economies in 1960, just a...
India's Digital Transformation Exciting says IMF
India is undergoing an ‘exciting digital transformation,’ that can be a learning experience for everyone, according to the International Monetary Fund which will feature a case study on the country's digital revolution in its new book. Vitor Gaspar, director of the IMF's Fiscal Affairs Department, said that the book Digital...
Chinese Group Expects India to Overtake China in Innovation by 2025
According to China's Science Technology Exchange Center, India's innovation growth rate will rise significantly over the next 15 years, and come close to surpassing China. "It is predicted that the innovation competitiveness of India will see a significant rise with its growth rate probably surpassing China between 2025-2030," the independent...
IMF: GST Will Push India's GDP Growth Rate up over 8%
In an exclusive interview with the Press Trust of India, Tao Zhang, Deputy Managing Director of the International Monetary Fund said: "The government has made significant progress on important economic reforms that will support strong and sustainable growth going forward." "We expect that the Goods and Services Tax (GST), which is...
Forbes Says India is 'Darling of Global Markets'
The major market in the world this year is India, says Forbes, and gives the following reasons to support its claim: It's not fighting a "trade and immigration battle with the White House" It doesn't have the "political soap operas like those seen in Brasilia and Moscow" Wall Street loves...
Urjit Patel Assumes Role of Central Banker in India
Deputy governor in charge of monetary policy at the Reserve Bank of India since 2013, Urjit Patel will take over charge of the central bank, replacing Raghuram Rajan, the outgoing governor, who returns to the United States. Patel holds a bachelor's degree from the London School of Economics, a master...