Research
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Stewart Patrick, Erica Hogan, Oliver Stuenkel, …
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Source: Getty
In The Media
India and Indonesia Can Be Big Winners From Global Trade War
The potential is clear for both India and Indonesia to transform their demographic booms into engines of domestic demand while positioning themselves as alternatives to China for labor-intensive manufacturing.
By Trinh Nguyen
Published on Sep 25, 2019
Source: Financial Times
At last, long-suffering investors in India’s economy have something to cheer about. On Friday, the country announced steep corporate tax cuts, sending the value of its main stock index up 6 per cent in dollar terms on the day and another 3 per cent on Monday.
The tax cut is significant, with the rate for manufacturing now on a par with low-rate jurisdictions such as Singapore. The message is that India is open to business, and that it aims not just to assuage investors’ concerns but to set a new path for growth. India’s prime minister Narendra Modi has been meeting investors and Indian diaspora on a US tour this week to make sure the message gets through.
It is about time. In a low-growth world, India and its regional neighbour Indonesia became investor favourites, boasting a combination that the developed world lacks: large populations and favourable demographic trends...
This article was originally published in the Financial Times.
About the Author
Trinh Nguyen
Former Nonresident Scholar, Asia Program
Trinh Nguyen was a nonresident scholar in the Asia Program at the Carnegie Endowment for International Peace.
- BRICS Expansion and the Future of World Order: Perspectives from Member States, Partners, and Aspirants
- Indonesia’s Controversial Fuel Price Hike Was Actually NecessaryCommentary
Trinh Nguyen
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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