Whether we call it a recession or not, one thing is sure, we are going through a severe economic crisis, which will be discussed (once over) in the Economics syllabus and debates, in coming years. In this global crisis, where the likes of United Estates or European economies are feeling the heat, United Arab Emirates economy continues to head into positive direction. All the economic indicators and reports are also confirming to the fact that there will be no slowdown in near future. Let’s have a look at this thriving economy and the contributing factors.
Oil & Gas reserves:
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A different economy, different parameters, and a different scenario altogether, recession is here and apparently it’s here to stay. If you are an aged fellow, you’d know that these calamities come and go, but if you are relatively young (or someone affected by it), you’d be feeling like a deer caught in the headlights while listening to the news of economic crisis sprawling all over the world. A recession like situation in US was always on radar when the credit crunch began, and the aftermaths were supposed to be seen in other economies as well. But some economies were considered resilient enough to pass through this phase unaffected. One of these “thought-to-be” solid economies was UAE, which thrives on its oil reserves, real estate and tourism.
Not that the earlier estimates were wrong, and UAE economy is deemed to go down with the recession, but then we are living in a global village and you can’t just detach an economy from those who are having trouble. All things considered, UAE may well be able to put up with the ongoing recession, but this economic unrest will definitely weaken the economy pillars.
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The Indian FMCG industry is one of the key growth drivers of the economy. Dominated by SMEs, mostly in tier II and III cities, the sector is currently estimated at around $17.42 billion.
Significantly, the segment has grown at a time when nearly all other sectors are bleeding due to the ongoing economic turmoil. Motivated by the robust growth and increasing demand, Indian SMEs in the FMCG sector are eyeing foreign markets to expand their footprint.
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