The world is scared of recession, What will affect India? | India became a boon for America.

 

The world is scared of recession, What will affect India? 

Record GST collection in India, Rising air passenger numbers, a jump in toll collections, a 13-year high in the Services PMI, and a four-month high in the Manufacturing PMI are showing what the signals are. All these indicators are telling that the Indian market is in a very strong position, and there is no possibility of a recession here.

 

These indicators alone are not the reason for speculating that there will be no recession. The world of statistics has claimed that there is no chance of a recession in India. India is the only country among big countries where there is a 0% possibility of a recession. The strength of the Indian economy is visible from all kinds of figures and including the sales of cars that have come recently.

According to the IMF, this year again the Indian economy is the fastest-growing economy in the world. Meanwhile, if we talk about the possibility of a recession in the world, then it has the highest 75% apprehension in Britain. New Zealand is at number two in this list where there is a 70% chance of recession this year. 

America is at number three with 65% apprehension. Fears of recession in the US have increased manifold due to the banking crisis and cash crunch. America is the world's largest economy and if recession comes in America, then it's terrible effect can be seen all over the world. Recently, the way banks have come to the fore in America and the Federal Reserve is also continuously raising interest rates. 

America's crisis is much bigger than that, and the American Finance Minister has warned that if the debt ceiling is not increased by June 1, America will default for the first time in its history. World of Statistics has also predicted about all the big economies of the world that there is a 60% chance of a recession in Germany, Italy, and Canada. 

At the same time, there is a 50% chance of a recession in France, 45% in South Africa, and 40% in Australia. Apart from this, there is a possibility of a 37.5% recession in Russia, 35% in Japan, 30% in South Korea, and 27.5% in Mexico, among the countries where recession is looming.

 

Whereas in Spain, 25%, 20% in Switzerland, 15% in Brazil, and 12.5% in China are expected to decline this year. The report also predicts a 5% recession in Saudi Arabia and 2% in Indonesia. Thankfully, India's name is not included in this report.

 

India became a boon for America:

 

America is the world's largest economy. The companies there are dominant in the world, but the economic condition of the country is not good right now. The banking crisis is getting deeper. The dollar is in dire straits, and there are rumblings of a cash crunch. The danger of becoming a defaulter for the first time is also hovering over the country. 

Economists have expressed apprehension that more than 80 lakh people may lose their jobs in the country due to this. That means jobs may have to be lost. In such a situation, Indian companies are coming forward as a big support for America. Indian companies are investing heavily in America and due to this lakhs of people are getting jobs there. 

According to a survey, more than 150 Indian companies have invested more than $40 billion in the US and are creating about 4,25,000 jobs there. This figure may seem low in comparison to 80 lakh jobs, but if jobs are saved for those whose jobs are going, then at least 4,25,000 people can be safe. 

Not only this, but Indian companies have also spent about 18% on Corporate Social Responsibility i.e. CSR in America. 5 million dollars have been spent. This has greatly benefited the local communities. In the US itself, their financing in research and development projects is about $ 1 billion.

 

In a survey by CII, an organization of Indian industry, this claim has been made in the Indian Route American Console. This indicates that the economic relations between India and America are moving in the right direction. Texas in New York, New Jersey, Washington, Florida, California, Georgia, Ohio, Montana, and ILLINOIS have benefited the most from the investment of Indian companies.

 

If we talk about the jobs created in these states, then 20,906 jobs have been created in Texas due to the investment of Indian companies. New York 19,162, New Jersey 17,713, Washington 14,525, Florida 14,418, California 14,334, Georgia 13,945, Ohio 12,188, Montana 9,603, and ILLINOIS 8,454 Are born.

 

On the other hand, if we talk about how much money Indian companies are investing in which states, then according to data, Indian companies have invested the maximum in Texas, which is about $ 9.8 billion. After this, about $ 7.5 billion was invested in Georgia.

 

Similarly, $4.2 billion in New Jersey, $2.1 billion in New York, $1.4 billion in Massachusetts, $908 million in Kentucky, $776 million in California, $72 million in Maryland, $711 million in Florida and $582 million in Indiana. Millions of dollars have been invested. These are the states of America in which the top investments of Indian companies are seen. 

This shows that Indian companies have kept the foundation of America. Even though the economic crisis, banking crisis, and financial crisis is hovering over America, its own companies seem to be collapsing. But Indian companies have kept America on hold. Tell me what you have to say about this, please comment on our site www.tradeipohub.co.in.