Expert Perspective

　　

According to an article on the livemint website of India, Indian Minister of Commerce and Industry Suresh Prabhu said: "The ongoing changes in global trade have brought huge opportunities to India. In addition, India’s trade policy must also focus on'expansion' and'sales power'. Because India’s economy will continue to expand in the future.”

      At the annual meeting of the Indian Industry Association (CII), Prabhu said: “India is facing huge development opportunities. We are cooperating with the World Trade Organization and bilateral trade organizations to prepare a long-term development strategy. During the critical period, everyone is asking what development strategy is normal and acceptable."

      According to Amitabh Kant, Chief Executive Officer of India’s National Policy-making Department, “From a domestic perspective, on the one hand, the economic growth and income gaps in the eastern and northern regions of India and the southern and western regions of the country are quite obvious. On the other hand, this gap also hinders the country’s economic growth."

      According to Kant, another problem facing India is that the data used in the formulation of the country’s policies is often outdated. Kant added: “The Indian Federal Government has identified 115 extremely poor areas in India based on data from various regions in education, health facilities and finance. These areas have abundant resources but lack a complete government governance system. "

      Kant said: “If India’s GDP growth rate is to reach 9% to 10%, then it must increase the country’s human development index.” He added: “Entity companies should also play their role. Promote the economic development of the country’s backward areas."

      Hardeep Singh Puri, a former Indian diplomat and Minister of National Housing and Urban Development, said: “The definition of smart cities is extremely strict. Such cities do not exist for specific service purposes. Smart cities will not affect the development of existing cities. India It will accelerate the pace of smart city construction."

      Puri said: "In the past 60 years, we have neglected the development of the city. We don't even have a real estate regulator. For me, smart cities are a kind of city that can improve the quality of life. I will not blame any settlement. Residents in illegal colonies, because they themselves are victims of imperfect policies.” Big data is the engine of building smart cities, and intelligence is the “vessel” of building smart cities. This enables smart cities to be realized by modern information technology, Network technology, industry technology, intelligent control technology, etc. are a new intelligent application. Mobile Internet is the "nerve" of building smart cities, providing ubiquitous networks for smart cities; cloud computing is the "heart" of building smart cities, providing a unified data platform for intelligent applications in various fields of the city.

      In this year's annual budget plan, the Indian government launched the National Health Protection Plan, which aims to provide free medical care for 40% of India's population.

      Sunita Reddy, managing director of Apollo Hospitals enterprise Ltd, said: “I am very grateful to the Indian National Transformation Commission (Niti Aayog) for all that has been done for the country’s medical business. This is a major part of human history. Progress, India’s universal health protection plan will cover approximately 40% of the country’s population."

      In the past 60 years, India's economy has achieved rapid development. From a foreign exchange perspective, India is the seventh largest economy in the world. Panagariya is an economics professor and former chief economist at the Asian Development Bank. In 2012, he received one of the most senior citizen honor awards awarded by the Indian government, the Padma Bhushan.

      He said: "With the continuous development of the Indian economy, related projects in the country have also been driven and developed." The Central Bank of India announced on the 5th that the benchmark repo rate will continue to be maintained at about 6%, which is an interest rate level. In line with market expectations. Market analysts said: “The main reason for the Central Bank of India to keep interest rates unchanged is to reduce the country’s inflation rate, so the central bank has no pressure to raise interest rates. In addition, India’s economic growth has clearly recovered, but it is not stable, which makes it impossible for the central bank to reduce Bank interest rate."

      In 2016, India implemented a plan to abolish the circulation of large-value banknotes to support the development of new currencies. Vivek Sharma, CEO of Piramal Pharma Solutions, a global pharmaceutical company, asked Panagariya: "What impact has India implemented to abolish the circulation of large-value banknotes on the country's economy?"

      Panagariya replied: “This is a reform to address the country’s corruption problem with the aim of reducing the use of illegal and counterfeit banknotes.”

      Ravi Ramamurti, Director of the Center for Emerging Markets Research, said: “The three major challenges facing India’s economic development are protectionism, changes in the nature of technology, and the rise of China as a major player in the world. However, if India can maintain a good economic development speed, then These challenges will no longer be a big issue."