Economics
‘New Economy’ Firms to Be India’s Growth Engine, HSBC Says
- Bank estimates 50% of FDI in India has been to this sector
- India’s success with start ups has lagged U.S. and China
Sept. 1: India's 20.1% GDP Growth 'Encouraging': Fmr. RBI Deputy Head
This article is for subscribers only.
A quantum leap in digital adoption and greater high-skilled exports have emerged as the newest drivers of economic growth and jobs in India, with the nation trying to catch up with China in terms of e-commerce penetration, according to economists at HSBC Holdings Plc.
The two new economic engines stand to gain from India’s large, young labor force, as well as from global changes, HSBC analysts said in a report to clients.