India in Davos (Global CEO Survey Report, Oxfam Report and Edelman Trust Barometer Report)
Global CEO survey report of Pricewaterhouse Coopers-PwC, Global Advisory Company, according to 2018, the speed of global economic growth will be slow in 2019. But this report also has good news for India … leaving behind the United Kingdom, India can become the world’s fifth largest economy in 2019.
What is special in the report?
The slowest growth since 2012 will be in 2019. This slow growth will be seen in almost all sectors of the economy, but it can be seen more in North America and Western Europe.
In the survey, 29 per cent CEOs agreed on this, and a large number of these were CEOs of these areas. In 2018, 48 per cent CEOs expressed hope of a downturn.
In the survey, 42 percent of the CEOs believed that the increase in 2019 could improve, but it would be much less than 57 percent of 2018.
According to the World Bank statistics, GDP has not crossed the 4 per cent barrier since 2011.
Since the economic downturn of 2008-09 only the trust level of growth in the medium term (three years) has gone down to the lowest level.
At the global level, only 36 per cent of the CEOs are more confident about the possibility of good growth over the next three years, compared to 34 per cent in 2009.
PricewaterhouseCoopers conducted an annual survey of 1378 CEOs across the world in more than 90 countries during September-October 2018. This survey report was presented in the World Economic Forum in Davos.
India is among the most trusted countries in the report
It can affect India too because the number of CEOs who are expecting a better return on investment in India is less, whereas the number of CEOs in the situation of uncertainty is greater in 2019. But still, India is placed in the list of most dependable countries. About 8 per cent CEOs believe that India is important for their growth, while 15 per cent of CEOs do not know where to invest. It has also been said in the survey report that as a better investment market, India has now surpassed Japan and Britain. India is an emerging attractive investment destination in the list of most invested markets.
Asia Pacific Region Vs North America
In the Asia-Pacific region where there are countries like India, China and Japan, there are three major threats to ‘trade war’, ‘availability of skill’ and ‘protectionism’ in the path of growth.
Nearly 31 per cent of CEOs in North America believe that it is important to create a direct link between education and employment, while only 11 per cent of CEOs in the Asia-Pacific region think so.
In North America, 31 per cent of CEOs value the skill development and re-training, while 50 per cent CEOs of the Asia-Pacific region are in favor.
There was no serious threat to policy uncertainty in 2018, but 35 per cent of CEOs believe that the increase in 2019 will be severely affected.
For the first time in 2019, the question of the effect of ‘trade war’ was also asked, and 31 percent of global CEOs said that this would reduce the growth rate in the coming year.
The importance of the US market for China’s growth will be reduced in 2019, as 21% CEOs of China believe that Australia will be important for their growth in 2019, while 17% of the CEOs believe that America will be important for them.
In 2017-18, 58 percent of the CEOs gave America the top position in countries contributing to China’s growth.
India can come fifth in world economy
In the same report, it has been suggested that India can achieve fifth place in the world economy in 2019. Right now, India’s ranking is the sixth. According to the report, due to almost uniform growth rate and population, Britain and France are back and forth in the list of the world’s largest economies. But if India goes ahead in this list then its place will remain permanent. The Global Economy Watch report by PricewaterhouseCoopers estimates that this year the real GDP growth rate of the UK will be 1.6 per cent, France’s 1.7 per cent and India’s 7.6 per cent.
What does the Oxfam Report say about India?
Oxfam also released its report with the above global report of the CEOs. Let us know that Oxfam, established in 1942, is a union of 20 independent charitable organizations. It works for the eradication of poverty at the global level and Oxfam International leads it. Currently, Vinnie Baniima is the executive director of this non-profit group.
The property of Indian billionaires has increased by Rs 2,200 crore per day in 2018.
During this period, the wealth of the top one percent of the country’s wealth increased by 39 percent.
Only 50% of the population of poor population has increased in property.
The country’s top 9 wealthy property is equal to 50 percent of the wealth of poor population.
13.6 million people living in India have been owed since 2004. This is the poorest 10 percent of the country’s population.
India’s top 10 percent population has 77.4 percent of the country’s total assets, and only one percent of them own 51.53 percent of the country’s total assets.
About 60 per cent of the population has only 4.8 per cent of the country’s assets.
The report says that between 2018 and 2022, 70 new millionaires will be made everyday in India.
Last year, 18 new billionaires became the country and the number of billionaires increased to 119. Their assets have increased from $ 325.5 billion in 2017 to $ 440.1 billion in 2018.
Women of 10 billion dollars work no money
Women, who take care of home and children around the world, make a total of $ 10 billion a year for which they are not paid. This is 43 times the world’s largest company Apple’s annual turnover.
In India, the work of non-paid women, such as care of home and children, is worth 3.1 percent of the country’s gross domestic product. In such works, urban women spend 312 minutes a day and rural women take 291 minutes. Compared to this, men in the urban areas only spend 29 minutes in unpaid work while men living in rural areas spend 32 minutes.
Edelman Trust Barometer-2011 report: India included in trusted countries
In addition to the above two reports, the Edelman Trust Barometer-2015 report was released before the start of the annual conference of the World Economic Forum in Davos. This report says that India is one of the most trusted countries in the world in terms of business, government, NGOs and media, but the reliability of the country’s business brands is the lowest. In this, the global reliability index has reached 52 points with a light weight of 3 points. In this report, China is at the top with the awareness of the public and the general population in the index, with 79 and 88 points, respectively. India remained second and third in these two categories. This report is based on the average of trust in NGOs, businesses, government and the media.