With COVID-19 confirmed cases approaching 10
million, the populous country notable for its striking wealth gap has seen
rising internal struggles, including large-scale farmers' protests and urban
workers' strikes.
Upholding an ambitious goal of growing into a dominant regional power, however, New Delhi's inconstant policy and lack of comprehensive strategy have seriously hindered the development of India's domestic industries. Increasingly, global investors have qualms about the country's economic prospect, the Global Times argued.
As for India's telecom industry, following the baseless attacking agenda of the US and trying to squeeze out global 5G frontrunner Huawei and ZTE will ultimately delay India's upgrading to the new network.
The same logic goes to other Indian industries as well, which have developed a highly integrated connection with Chinese supplies, including auto parts, medical materials, not to mention China's ample capital reserve and advanced technology and corporate management. Once capital turns away, it's going to be hard to lure them back.
In the meantime, the regional economic
integration in East and Southeast Asia has speeded up, following the inking of
the mega free-trade deal - Regional Comprehensive Economic Partnership (RCEP) -
covering about 30 percent of the global economy and population, the Global
Times went on to say, adding:
Upholding an ambitious goal of growing into a dominant regional power, however, New Delhi's inconstant policy and lack of comprehensive strategy have seriously hindered the development of India's domestic industries. Increasingly, global investors have qualms about the country's economic prospect, the Global Times argued.
As for India's telecom industry, following the baseless attacking agenda of the US and trying to squeeze out global 5G frontrunner Huawei and ZTE will ultimately delay India's upgrading to the new network.
The same logic goes to other Indian industries as well, which have developed a highly integrated connection with Chinese supplies, including auto parts, medical materials, not to mention China's ample capital reserve and advanced technology and corporate management. Once capital turns away, it's going to be hard to lure them back.
Though the trade pact still leaves a door open for India, it's unlikely for it to join in the foreseeable future, as the ship of the seemingly speeding recovery in post-pandemic era sailed without India onboard.
Unlike the developed economies that are
shored up by solid economic foundations, playing geopolitical games with China
is not affordable for a relatively poor country like India. Now it's time for
New Delhi to think it over.
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