The newspaper headlines and finance sites have been full of stories about India’s economy going to beat China’s growth by 2016 or 2017 according to which export who you prefer to belive. In this case it is two world heavy weights the IMF otherwise know as the international monetary fund and the World Bank. So it would seem that after year’s of living in China’s shadow the India economy is finally going to start to leave up to the potential it has been showing for the past decade.
However unfortunately it is more due to China’s downturn in economic growth which is going to make it happen then what is going on in India. According to the predictions given by these two heavy weight bodies.
Instead, it is China’s slowing growth that’s making India look better. While India’s growth is only going remain around 6.3% over the next 2 years it is the fact the China’s economy is going to slow down so much that it gives India the ability at long last to over take is neighbour.
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So with Narendra Modi and the BJP part winning a landslide in the election last week. Whilst in the eyes of the western world he carries baggage from the incidents in 2002, his considerable efforts to reform and boost the economy in Gujarat which has had success over the past 10 years should not be overlooked. This has made him a very popular person in the region and the slick media campaign ran throught the election built on this and cemented his win. Hopefully after his swearing in ceremony on Monday 26th May, he can get to work on the rest of India. If he can replicate the reforms Gujarat has seen in other states, then it will help transform India into a power house for the 21st century.
As India wealth increases a growing and richer middle class will translate for an increase in consumer goods, which in turns will place increasing demands on the distribution networks within individual states and across India as a whole. It will become no longer acceptable to have lorries loaded and then waiting while they eventually make it to their unloading point. Customs will need to increase their efficiency so goods which are being imported and exported are not held for days awaiting clearance approval. It will be interesting to see how this changes over the next five years.
So will this be the boost that the Indian economy needs? Can he get corruption and bribery under control and get the India economy to its rightful place challenging China and other growing Asian economies. The next five years will tell.
India Post wants to restructure and develop its parcel network, operations and delivery to meet the demands of todays’s ecommerce stores for their need to ship and delivery their parcels. With 1,39,086 post offices in its network, the post office feels it should be in the best position to offer the last mile delivery link for parcels to ecommerce buyers. With India’s e-commerce market increased from about $2.5 billion in 2009 to $16 billion in 2013 and is expected to touch $56 billion by 2023 according to Assocham India Post needs to adapt.
Supporting this drive to handle e-commerce comments made by the Postmaster General Merwin Alexandera said a new postage handling facility developments on a nine-acre site along GST Road in Chennia to complement along with similar developments in Mumbai and Hyderabad, as part of the 12th Five Year Plan. These will compliment centres already in operation serving New Delhi and Kolkata.
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Source: India Postal Site