WILLIAM GUMEDE: India set to carry the torch for Brics bloc
Country’s economy is growing faster than China’s, and its short-term goal is to become a $5-trillion economy
05 May 2023 - 05:00
The Indian economy is now growing faster than any of its Brics (Brazil, Russia, India, China and SA) partners, outstripping even China. Meanwhile, SA and Brazil are deindustrialising, and Russia’s economy is crumbling because of its ill-considered war with Ukraine.
India appears to be successfully positioning itself to become a hub in global manufacturing supply chains after the disruption caused by the Covid lockdowns and the Russia-Ukraine war, which pushed countries and companies to diversify their supply chains away from China and Russia. ..
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