India's 23.9 per cent GDP contraction in April-June quarter makes it the worst performing major economy among the G7 + India + China. It was the result of the world's strictest lockdown starting March 25. However, depicting that state of India's economy - the worst in four decades - vis-a-vis other large economies in an infographic (below) found Business Today in the midst of an unsavoury social media debate over whether India's economic performance was indeed as poor.
Twitterati compared apples with oranges - some deliberately to confuse, others out of ignorance. Year-on-year GDP numbers were mixed with 'annualised' GDP numbers which were mixed with quarter-on-quarter GDP numbers, each one twisting and turning statistics to prove their point and confuse and confound the readers. It was when we put out a detailed graphic (https://www.businesstoday.in/current/graphics/infographic-india-gdp-apples-to-apples/story/415520.html) that we could lay all speculations to rest. So it's only apt that we deliberate over how to emerge from what increasingly appears like a multi-organ failure in the economy. We approached eight economists, statisticians and markets experts to ask how to fire up all four faltering engines of the economy-consumption, exports, private investment and public expenditure. More importantly, where to find money for that. Their prescriptions are on page 20. While on THE economy, do not miss our probing interview with Chief Economic Advisor Krishnamurthy Subramanian who counters that India is already experiencing a V-shaped recovery.
But this special issue is not just about the economy. It's packed with an outstanding selection of those who represent half of humanity. Who stand out in the world of business and economy and wield power as responsibly as they lead-India's Most Powerful Women in Business & Economy. Now in its 17th edition, Business Today's 'India's Most Powerful Women' Special Issue and awards have stood the test of time for a rigorous methodology and selection of remarkable women who have transformed the world of business and economy with their leadership skills and smart, strategic interventions.
Just as women leaders continue to register their stamp of authority, the Business Today MPW list has continued to grow. This year we have the largest selection ever of 47 women leaders. Read these mesmerising stories of Indian women leaders. This mammoth project would not have been possible without the untiring efforts of my colleagues Sonal Khetarpal and Ajita Shashidhar who led this project and have also authored two relevant stories on India Inc.'s quest for diversity and why we lack The She Economy.
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