India is also aware that manufacturing is the pillar of the national economy and the guarantee of national stability. Because the developed manufacturing industry can create more employment opportunities and stimulate the economic development of India.
At one time, a well-known American financial website, Zeohedge, said that India was facing a serious fiscal deficit. How serious is it? Mainly in three places can be reflected.
First of all, many Indian companies are burdened with huge debts.
The debts borne by Indian enterprises have damaged the balance of payments of enterprises. Although the economic growth rate has reached the ideal effect in the early stage. But in fact, the final profit of Indian companies is very small.
Second, India's foreign exchange reserves are also worrying.
India's current foreign exchange reserves are only $400.7 billion. With such reserves, India simply cannot bear any financial risks. Once there is a problem, the domestic funds in India will be greatly lost.
Third, Indian banks have to sell assets to maintain operations.
Foreign media have reported that both the Bank of India and the Industrial Development Bank of India have sold assets. The reason is to meet the debts and non-performing loans of enterprises. Selling assets may not guarantee the operation of banks, so banks are also planning financing plans.
The shortcomings of the Indian economy have also begun to surface. The Indian market has been occupied by China manufacturing and almost lost its living space. It sounds as if China took away the Indian way of life, but the reality is so cruel. If the rise is not made in China, but made in India. I'm sure they won't go easy on me.
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