The economic activities of the country are expected to benefit from the economic slowdown in China and their zero Covid policy in the coming months. According to the assessment of India Ratings, the property market of China is going through a crisis right now. Because of that, the economic conditions created there can prove to be a beneficial opportunity for countries like India.
In some areas of China, cases of corona have started increasing again. China’s emphasis remains on a complete ban in areas with Corona. In such a situation, America and Europe are also affected by the slowdown there. At the same time, their exports are also affected. Commodity prices soften in such an environment which is a boon for countries like India, as they are big importers of the commodity.
The challenges of the property market in China are expected to be prolonged. Asian countries including India can benefit from this in the global market. Finance Minister Nirmala Sitharaman said in the plenary session of the International Monetary Financial Committee (IMFC) that this meeting is taking place at a time when growth in large economies, impact of geopolitical conditions, rising inflationary pressures due to rise in food and energy prices, etc. facing risks. This is affecting vulnerable economies.
The Finance Minister said that the Government of India has taken steps to protect growth while continuing to manage inflation. For the last 25 months, the government has provided free food grains to 80 crore families. Access to the last mile and poor of financial services is a key priority for the government and is helped by India’s digital public goods infrastructure.
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