Key Points
Indias economy is showing signs of steady growth but needs to expand at a pace of over 8% to create enough jobs for the worlds most populous nation, former Reserve Bank of India Governor Raghuram Rajan said...
Economic growth at 6%-6.5% is strong compared with other countries, but relative to our need for jobs I think its still somewhat slow because we have a lot of young people who need to be employed...
While Indias expansion has outpaced that of other major economies, the country isnt creating enough jobs for the millions of people joining the workforce every year..
HSBC estimates the nation will need to create 70 million new jobs over the next 10 years, and with growth of 7.5%, only two-thirds of the jobs problem will be solved..
As far as Indias growth goes, we are recovering from the pandemic and now finally we are seeing some steady growthHigher government spending on infrastructure, cleanup of balance sheets and demand from the upper middle class is driving growthChina has tremendous innovation in chip manufacturing and India is still very far behindA soft landing for the US economy is very difficult - theres a greater than 50% probability that the economy slows too much..
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