so too early to look at potential economic outcomes of what is happening in China with regard to India. That's right. I mean, look, um in if if I think Indian industry as well prepared, because psych local sectors are have the leverage, their balance sheets significantly. If you look at from the banking perspective, banks have raised funds and our and opposition to to meet credit requirement. I mean, certainly, if there are China specific sectors like farmer or others, if there is disruption, that will be French. But it's two earlier this point in time to speculate What? That what that could be that I would I would urge, you know, I mean, if they're eligible for a booster, does and have been taken to do so. You know, following use, some common sense regarding hand wash in and whatever it is. But let's not panic now. India's GDP growth rate slowed in the last quarter, primarily driven by the manufacturing sector. In fact, the sector's gross value added contracted by about 4.3% year on year. Body, you think needs to be done to boost manufacturing because it's a sector that has been struggling after losses during the pandemic. While vision of First of all, you know, the manufacturing sector is very, very important for for India because if you look at it at the moment, you know, agree accounts for about 16 to 17% of GDP, but 45% of jobs. And that's clearly not a situation which is trainable. And while we have a robust services sector which will which will account for a lot of jobs. But manufacturing certainly has to come into play, and manufacturing itself has has also been stuck in the 15 to 17% range for for a long time. And that is where I believe this government has as a laser sharp focus on on attracting investments and and global supply chains to India and and looking to take manufacturing up to 25% of GDP, which is very important. So, you know, issues like I mean, I should say policies like the Pillai Schemes and equally reforms Sonia measures as to enhance the ease of doing business and reduce the cost of doing business have all had an impact. But we also have to keep in mind that while India is the rare bright spot going ahead. Global growth is slowing down. The IMF has has forecast nearly having of global growth from 6% in in 2022 to 3.2 sent in in 2023 below 3% at 2.7% in 2024. So we have to be prepared for some short term turbulence without losing sight of the fact that over the medium to long term the India growth storeys intact and it presents a tremendous opportunity that we must all work towards towards achieving.
