The Hindu Editorial Vocabulary 2nd May 2024

Unlock your journey to boost your word power. Adopting such habits can boost your communication skills for exam preparation. We cover the Hindu Editorial Vocabulary 2nd May 2024 contains contextual meanings and a list of difficult words.

The Hindu Editorial Vocab On India’s Service Story Success

India’s robust intangible exports growth faces risks that warrant a nuanced response

A deep-dive research report from global investment (the act of putting money, effort, time, etc. into something to make a profit or get an advantage, or the money, effort, time, etc. used to do this) banking major Goldman Sachs, evocatively titled ‘India’s rise as the emerging services factory of the world’, has captured India’s recent success in providing global services and sought to forecast (to say what you expect to happen in the future) growth prospects (the possibility that something good might happen in the future) and risks in the medium term. The take-off trajectory of the country’s IT services sector, unleashed (to suddenly release a violent force that cannot be controlled) after critical economic reforms in 1991, is well known. The firm takes a broader view of India’s services exports over the last 18 years, including professional consulting, that have grown the fastest, travel services which have grown the slowest, and financial services that could gain if initiatives (new plan or process to achieve something or solve a problem) such as the GIFT City click. While global services exports tripled over 18 years, such intangible (impossible to touch, to describe exactly, or to give an exact value) exports from India grew at twice the pace to reach nearly $340 billion last year. In fact, its exports growth has been the third fastest globally since 2005, behind Singapore and Ireland. The country’s share in global services outflows (the amount of money that leaves a company, industry, or country during a particular period) has risen from under 2% in 2005 to 4.6% in 2023. India’s share in goods exports increased from 1% to 1.8% during this period.

The services trade boom has also served as an invaluable (extremely useful:) cushion for India’s external account balances against shocks such as pricey oil imports. Goldman Sachs expects that buffer to remain in play with services exports projected to rise to $800 billion by 2030. While this is slightly lower than the government’s target of $1 trillion by 2030 for both services and merchandise (goods that are bought and sold) exports, a continuing uptick in high-value services would also drive top-end discretionary consumption and real estate demand, the firm reckoned. In the immediate (happening or done without delay) term, the outlook is tentative as top firms in IT services, still India’s most dominant export segment, have shed employees over the past year and their growth guidance for this year is far from bullish. Infosys, for instance, expects revenues to rise 1% to 3% this year in constant currency terms. The rise of global capability (the ability to do something) centres offers some comfort. However, the firm’s analysts stress it would be imprudent (unwise, by failing to consider the likely results of your actions) to take India’s services growth for granted. Constraints that need attention include training graduates to be job ready, and the stress on natural resources in regions where growth is concentrated, as reflected in the water crisis at Bengaluru. A protectionist tendency in destination countries could hurt exports, just as irrational domestic policy interventions such as attempts to “manage” IT hardware imports. India needs a calibrated (to mark units of measurement on an instrument such so that it can measure accurately) approach to sustain the services success story. That should include a hard push for global market access and opportunities for all professional services, as well as a light-touch regulatory approach to let new ideas and enterprises bloom across areas such as artificial intelligence, manufacturing-linked services, and blockchain applications.

The Hindu Editorial Vocabulary Wordlist 2nd May 2024

Time to start your journey to improve vocab power. Unlock your learning abilities with the Hindu Editorial Vocabulary 2nd May 2024.

• Investment: The act of putting money, effort, time, etc. into something to make a profit or get an advantage, or the money, effort, time, etc. used to do this.
• Forecast: To say what you expect to happen in the future.
• Prospect: The possibility that something good might happen in the future.
• Unleashed: To suddenly release a violent force that cannot be controlled.
• Initiatives: New plan or process to achieve something or solve a problem.
• Intangible: Impossible to touch, to describe exactly, or to give an exact value.
• Outflow: The amount of money that leaves a company, industry, or country during a particular period.
• Invaluable: Extremely useful.
• Merchandise: Goods that are bought and sold.
• Immediate: Happening or done without delay.
• Capability: The ability to do something.
• Imprudent: Unwise, by failing to consider the likely results of your actions.
• Calibrated: To mark units of measurement on an instrument such so that it can measure accurately.

The Hindu Vocab Master 2nd May with Synonyms & Antonyms

Know synonyms and antonyms of difficult words in Hindu Vocab Master on 2nd May 2024.

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