The World Economic Forum's (WEF) Global Risks Report 2024 was rather gloomy, warning of limits to growth and conflict-related uncertainties.
Country-specific assessments based on public authorities' input highlight key risks for each country over the next two years. Risks in India include disinformation, disease, illicit economic activity, inequality and labor issues.
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Business Standard has assessed these risks for other major emerging markets and the top five large economies.
Problems related to disinformation are exacerbated by low trust in news organizations. This for India is lower than most emerging markets. Inequality, measured as the share of income earned by the top 1%, was higher in India than in any other emerging market country except Russia. It was also higher in India than in other countries in the top five economies.
Mortality was relatively high due to maternal, prenatal, and nutritional conditions, as well as infectious diseases.
The WEF report said labor shortages are likely to be a problem in many major economies. India is suffering from a lack of skilled labor. As a result, it is said that there is a shortage of necessary human resources, even though the unemployment rate remains high. Economic hardship, such as unemployment, is said to be one of the main factors behind illegal economic activities. A chasm exists between emerging and developed markets when it comes to access to working-age talent. The report warns that rapid technological advances could encourage the use of machinery and impact labor mobility.
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