After COVID-19, when the world’s largest economies suffered huge losses and at some point entered the recession, nations like India and other developing nations saw opportunity in the pandemic and doubled theirs by the end of COVID-19.
Before, almost all multinational companies wanted to set up their manufacturing plants in China. There are several reasons for this, but the main ones are usually cheap labour and the availability of a hugely skilled workforce. Things changed severely after the pandemic breakout. Most companies are setting up their plants in India because of the government’s initiatives.
In the fifth straight month, manufacturing units are shattering, according to reports, which is concerning for the world’s second-largest economy. On the other hand, the United Nations and the European Union are seeing inflation issues; in December, the USA saw a 0.4% price hike in general products.
On the other hand, Russia is planning to reduce diesel exports to the United States, which will disrupt the oil market as well. After US sanctions, the Russian ruble saw a jump instead of declining, which even surprised experts, and South Korea’s declining fertility touched the bottom rock.
Because of all the geopolitics and issues with China, nations like the United Kingdom and the United States of America saw a hike in imports from India in terms of the electronic market, which is positive for India’s exporters and forex reserves.
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