From July to September this year, India's GDP growth reached 76%, far exceeding expectations and higher than the Reserve Bank of India's previous ** of 65%。Such economic data is rare for India, and it shows that the Indian economy has achieved good results in the short term.
The reason for India's faster-than-expected GDP growth is mainly due to a number of sectors. First, the manufacturing and services sectors are gaining momentum, with the manufacturing sector growing by 85%, and the service sector grew by 83%。Secondly, agricultural production has also picked up, affected by the good monsoon and the agricultural subsidy policy, agriculture has increased by 39%。In addition, private consumption has also increased, and its contribution to GDP has reached about 70%.
This growth rate has exceeded expectations, making the Indian economy show some resilience and development potential. However, the United States and Japan, faced with such data, have unexpected doubts and bearish attitudes towards India.
The United States and Japan have expressed doubts and pessimism about India's economic growth. Japan's Nikkei Asian Review notes that India's economic performance is hardly qualified and that a sustainable growth pattern is needed to promote shared prosperity across all sectors of the economy, not just for the benefit of a privileged few. The article argues that India's economic growth is typically characterized by "large enterprises enjoying benefits and small enterprises burdening them". While relying on large companies can boost employment and economic growth in the short term, it is not sustainable. The New York Times of the United States pointed out in an article that India's unemployment rate has risen to more than 10%, the highest point in two years, and India is also one of the countries with the lowest female employment rate in the world. Although India has a large supply of labor, the quality is relatively low.
While there is some truth to these arguments, they ignore the long-standing problems of the Indian economy. India** has been working hard to address employment and economic imbalances, but it will take time and long-term effort. The US and Japan have been optimistic about the Indian economy in the past, but now their views on India have changed, and the reason behind this is that their interests are no longer aligned with India's growth.
The United States and Japan are questioning and belittleing India not because they really care about India's development, but because they selectively evaluate India in line with their own interests. Their perception of India has changed, mainly because the growth of the Indian economy could pose a threat to their position.
The United States and Japan welcome a weak but obedient India, but do not want to see a strong India that occasionally goes against their will. India is now closing the gap with Japan in dollar terms, which has given the United States and Japan some warning that the continued growth of the Indian economy will have an impact on their interests.
The questioning of India by the United States and Japan actually exposes their double standards. In any case, the Indian economy is an important development opportunity for the Indian people. India** should give due attention to these doubts, but more importantly continue to push for economic reforms and policies to ensure the sustainability of economic growth and broader benefits.
India's latest quarterly GDP growth beat expectations, but it was questioned and bearish by the United States and Japan. This shows that there may be double standards and interests in the United States and Japan's concerns about India's development. Although the Indian economy still faces some problems, India** should remain committed to reform and development to achieve sustainable economic growth and broader benefits. At the same time, India should also pay attention to and solve the problem of employment and economic imbalance, and improve the quality and skill level of human resources.
In the global economy, every country has its own development path and challenges, and India is no exception. While pursuing economic growth, India** should pay more attention to social equity and sustainable development to provide more opportunities and benefits for its people. Only in this way can India truly achieve long-term and stable economic growth, improve the living standards of its people, and truly embark on the path of prosperity and development.