For an economy like India, the present and future are always very
dynamic and unforeseen, nonetheless very very interesting. The year 2018 was no different when it commenced with a news of India overtaking China in terms of GDP growth rate at 7.2% and the predictions by IMF were even more optimistic. However, the year was a mixed bag of nuts as we saw some of the events chiding the economy. A natural calamity as big as Kerala floods hit the country and hit hard, a huge loss of almost 500 human lives and a financial slap of almost Rs. 40000 crores.
Not only did we see a lot of good and ill effects of GST implementation but also raced up to become the 5 th largest economy in the world. A trade war broke out between two countries and the whole world was affected the life out of it. Though, developing economies like India and Vietnam, to name a few, found their way of having benefitted by it. All hell broke loose when the economy was faced with PNB fraudulent letter of credit scam, as big as Rs 14000 Crores, in the first half and then Second half came with IL&FS crisis and left us in panic mode. Some unforeseen circumstances led the RBI governor Urjit Patel to resign mid-tenure and some welcome moves like the abolition of section 377 were also faced with.
The great Indian share market saw highs and lows this year. Highly
anticipated IPOs like Rites, HDFC AMC were launched, on the other hand, we saw a mammoth deep jump by markets owing to the
weakness rupee showed, boiling oil prices, foreign capital outflows
and whatnot. 2018, indeed was the year of Mergers and Acquisitions. Some notable M&A include Tata-Thyssenkrupp, Vodafone-Idea, Walmart’s takeover of Flipkart, and India’s giant in making, Dena Bank-BOB-Vijaya Bank. There were multinational giants who were eying an entry in India and completed the move in the Year 2018, and the credit goes to the opportunities for Global Food chains in India, relaxed FDI rules. Ikea, to name one of such companies who graced India with their entrance.
There was a lot that happened in the year 2018 which went on to
make India an economy that it is today. There were a lot of blows
and boost ups for the formidable economy that we call Incredible
India. 2019 comes with even higher hopes of development as we see ourselves getting into the election year and one year shy to the
vision 2020.
Thank You
Regards
Author- Mayank Biyani
Kautilya
IBS Mumbai
Nce
ReplyDelete👍👍👍👍
ReplyDelete