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#India is set to cede the fastest growing major #economy tag to #saudiarabia, with the #indianeconomy growing at 7%, and the latter at 7.6%.

The advance estimates also point to a "challenging" #year ahead, with #global #macroeconomic headwinds taking their toll on #economic #output.

More so if the #ukrainewar drags on, and if #china continues to #decelerate.

Indeed, as I write here https://rammohansusarla.in/2022/06/22/no-matter-the-spin-dark-clouds-are-looming-over-the-indian-economy-in-what-can-be-a-monsoon-of-storms/, there are "dark clouds" on the horizon and even a #slowdown cannot be ruled out, in case the #worldeconomy enters a #recession.

Is the #indianeconomy a "lone" bright spot amidst #global #gloom, or is #India's #economic #growth a "mirage"?

While #india is indeed the fastest growing major #economy, it is hobbled by several #structural weaknesses, leaving it "vulnerable" to #external and #internal #macroeconomic shocks.

From the high #currentaccount #deficit (currently at 4.4% of #gdp), to its shrinking #exports, the effects are being felt in the falling #rupee and #inflation due to increased #costs of #imports.

Moreover, both #agriculture and #industrial and #manufacturing #sectors are "anemic" (with the latter actually shrinking in size), resulting in a "ticking time bomb" of #unemployment, belying the #demographic #dividend.

The "troubled" #chinese #realestate #developer, #evergrande missed yet another #deadline for submitting a #turnaround #plan.

While already classified as in #default, the latest "failure" is another nail in the long-winded #restructuring #process, which effectively moves #evergrande into #bankruptcy.

This couldn't have come at a worse time for #xi, and #china, already reeling under the spectacular #collapse of the #zerocovid #strategy, and by extension, a #body #blow to the #chineseeconomy.

As the ancient #chinese curse goes, "May You Live In Interesting Times!"

Interesting times indeed!

#financeandeconomy #finance #economy #business #globaleconomy

Kaput is German for "broken" and is also used to denote "finished", or "the end"!

I chose the German word, Kaput, because, as during the two World Wars, the present world situation is reminiscent of how close we are to another World War!

With both #putin and #xi ganging up against the #west, and #biden going hammer and tongs at both, 2023 can well be the Kaput year!

Where does #india stand? The #modigovernment has so far "played it smart," though I feel 2023 will "force" our hand and make hashtag#modi choose sides.

The #globaleconomy is in a #slowmotion course to a #recession, and this is yet another reason why 2023 will be the Kaput year.

Here are my #2023predictions!

Is it any surprise that #hybridwork was named #wordoftheyear by Forbes , endorsed by Glassdoor echoed by the Financial Times.

As the #newworldofwork becomes the #newnormal, #corporates have to necessarily #adapt and #adjust to the nouveau #work#models.

The combination of #workfromhome and #workfromoffice is what more #firms ought to embrace in the #postpandemicworkplace of 2023.

It is "jarring" to note that holdouts like #elonmusk continue to "order" their #employees#backtooffice in times of severe #disruption.