Germany Recession: Germany, which is considered to be the largest economy of Europe, has come under the grip of recession. The country’s Statistics Department gave this information on Thursday (May 25). On the other hand, the danger of default is also hovering over America. Today US President Joe Biden announced that there is no such apprehension.
The risk of recession on India is 0 percent
According to the recent World Statistics report, the risk of recession on India is 0 percent. At the same time, a recent report by the Asian Development Bank showed that India’s GDP will grow by 6.4 percent in the financial year 2023, which will increase to 6.7 percent in the next year 2024.
ADB Country Director for India Takeo Konishi had said that despite the global recession, India’s economic growth rate is stronger than many countries’ economies and reflects relatively stronger domestic consumption and less dependence on global demand.
High dependence on indigenous things
First the danger of default of America and then recession starts in Germany. Due to these two things, the difficulties of China and Japan, the top 5 strong economies of the world, have increased. The main reason for this is that China and Japan are the biggest foreign investors in US government debt. They account for $2 trillion of the debt the United States has ever taken.
Meanwhile, a wave of anxiety has run in the world’s first 4 strongest economy countries, while on the other hand, the eyes of the world have been fixed on India. The biggest proof of this is that in today’s time, India is trying to depend more on indigenous things. PM Modi’s Make in India is the biggest proof of this. Apart from this, since Kovid, many big companies have turned towards India instead of China.
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