Indian Business going global
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whatever123
Telugu Puli
Joined: 30 Nov 2006
Posts: 669
|  Posted: Sun Jun 01, 2008 9:09 pm
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| | ved wrote: | It is all related to oil prices and the financial crisis brought upon by sub-prime mortgages woes of US, and to some extent that of Europe. With 2.2 million barrels/day consumption India may not be in the big league of countries consuming oil, but it accounts for 30% of our energy needs. Sustained high crude prices, where India imports 70% of its oil, is taking sheen out of the much touted export growth.
The declining dollar is another reason why our economy is slowing down. The classic argument that declining dollar may reduce the value of our exports but it will also reduce the import costs going into the products is not coming true.
On short term, until US economy stabilizes, their interest rates go up and dollar strengthens, we will see continuous weakness in the global economy and that of India. In the long term, our consumption has to increase to the levels of developed countries, giving enough cushion for the economy from external jolts. But energy consumption costs will continue to be Achilles’ heel for our economy until we find alternate sources. |
Not just that .The publis finances are in a mess, the fiscal deficit has not come down the governement non developement expenditure increased all resulting in reduced investment in infrastructure. And even in that investment corruption takes a bite. |
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pintu
Joined: 15 Dec 2008
Posts: 2
Location: Hyderabad
| Posted: Mon Dec 15, 2008 5:08 pm
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| | thanks for this information.. |
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