Retired Marine Corps Gen. Jim Mattis, the former secretary of defense and an exceptionally well-read warrior, has said, “Throughout history, we see nations with allies thrive, and nations without allies wither.”
Nobel Laureate Abhijit Banerjee has expressed concern over the state of the Indian economy and observed it was on the verge of a major recession. He said the government should focus on stimulating demand.
There is also “significant distress in rural areas,” Rajan wrote in an opinion piece in India Today magazine. He said India is in a growth recession, defined as an economy growing at a slow pace and where unemployment is rising.
India's much vaunted goal of becoming a $5 trillion economy by 2025 is likely to remain an unrealistic target given the dismal economic data of the past few quarters and the doubts and concerns voiced by ratings agencies and economists on the medium-term outlook.