Much of India’s population expected to be vaccinated by 2022-23, says ADB
The Hindu
The Indian government has assured COVID-19 vaccines will be provided for all by December 2021.
The Asian Development Bank (ADB) has downgraded its India growth forecast for this year to 10% on Tuesday, from 11% projected in April, citing the second wave restrictions across States and expects most of India’s population to be vaccinated by 2022-23. The Indian government has assured COVID-19 vaccines will be provided for all by December 2021, but ADB’s comments suggest global observers are not convinced of the target being achieved. A faster than expected spurt in fuel and food prices in India also nudged the Bank to elevate its average inflation projection for 2021-22 to 5.5% compared to 5.2% anticipated earlier. The Reserve Bank of India (RBI) has projected retail inflation at 5.1% for this period.
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In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
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Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
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