tv Business - News Deutsche Welle September 8, 2022 3:45pm-4:01pm CEST
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that could keep the industry there from dying out. and an indonesian fashion brand looked to the past for ways to make clothes that are good for the future of the earth. welcome to dw business. i'm christy plats in india's economy grew at 13.5 percent in the 2nd quarter. that's compared to the same period in the last year. it's an astonishing double digit figure at a time when other major economies are in trouble. global economic growth has slumped amid recession fears caused by spiking energy prices that followed russia's invasion of ukraine. india shook off the effects of the downturn of the pandemic period and is expected to post a 7.4, annual g d, b, g d p growth. this year, seemingly recovering ground, lost almost 3 years ago. now, india's g d p growth has been outperforming other major world economies, even as they bounce back from the pandemic. they've been struggling with the fault from the war and ukraine, including rising food and energy prices. china's been hard hit by locked on measures the supply issues. now in the last 10 years,
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india kept growing until the pandemic which hit its economy hard. g d p declined a sharp 6.6 percent in 2020. now the economy started recovering in 2021 with a booming 8.9 percent growth in g d p. this year and d as economy is expected to grow by 7.4 percent. but not all is rosy. falling water levels, there could have severe consequences for rice production and important stable crop . but farmers hope innovative techniques can keep the positive momentum going. ah, any one who has driven through the state of punjab is familiar with this sect feels of body the rice crop. historically rice has been grown here just like this. the method is called paddling where crops are submerged in water for weeks. this is one of the most water intensive ways to cultivate body. and the results are in been
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job is now facing and increasingly severe water crisis. farmers and having to figure out ways around it. like good breed thing. who was experimenting with a technique that is making inroads in north india? ah bonnie ducking. okay. almost every year the water level is falling by 5 to 10 feet, a lot up to 3 me does in our line, arguable only be adopted. the died at sewing of rice technique lead because it requires less water level of thought. again, you started to understand how the direct sewing technique works. no, we've got to look at the old method 1st. traditionally, saplings of rice are grown in a nursery for weeks and transplanted into the field which are flooded. but rice is not actually an aquatic crop. it just has a great ability to tolerate being submerged. the what is mean role is to repel pests and works as a natural we decide. in an on 5 month,
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the crops can be harvested and done into rice in the form. we know. but this method uses up to 5000 liters of water per kilogram of rice and has been jobs. water tables shrinks, it is predicted that rice me not groovy on a few decades. direct sewing or the dsr technique is the alternative where seeds are so indirectly by hand or machines. more seeds may be needed for the same area, but yields remain largely on power. the traditional method machine to save labor and related costs and landed in punjab. whether it was a labor shortage or did you i did back that it wouldn't be yes. i have saved almost 20 percent of my water they buy and you can see here this has not affected the quality of my paddy at all. i do not gonna that the judge state government is now offering farmers compensation for these 1500 around 18 euros a season to switch to the new method to conserve water landscape. while for more on
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the ground in india, we go now to our correspondent in delhi charo kartik high up. we just heard a bit ago about these struggles in the rice industry in india. but the, at the same time, the country just registered that huge growth in g d p in the 1st quarter. what seems to be working out there right now? because some things are obviously struggling. well, christie, most economists are pointing out 2 things. one does do the b growth numbers is essentially because of the base effect. because last year the growth was pretty bad and when the economy was still in the throes of urban demik, autonomic related stress and now, and the economy appears to be leaving that stress behind and which is 0, which is what has been reflected in these numbers. however, ah, what in does a reserve bank had predicted was a 16 percent growth. so this is a business that this growth is law here as compared to what was expected out of the
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indian economy. so even though the base effect has trickled in be expected, the expectations have really not been met. do. there is, of course, a positive story and that positive stories about the rebound in the services sector . they seem to have a b, have been doing well. private consumption is speaking of which means that demand in the economy is picking up and are, those are the really the silver linings? okay, what are you at the point that this, these numbers are compared to last year when we were in the midst of the kobe pandemic? how do these figures actually compare to pre covered india? but you can see that's the problem. a pre call that, as most economists are pointing out, as compared to the peak of a situation this way, the situation is still not comfortable as the growth would be somewhere around 4 percent as compared to the pre corporate level. so which means that the demand is yet to pick up, the growth has yet to pick up as compared to what it was several years ago, even before covered the going to be had started or slowing down because of the
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cascading effect of multiple steps or multiple developers that happened economy, there was the monetization, there was the introduction of the goods and services tags. and then the band, emmy came in. so the domino effect sort of all these events at the new going to be, is yet to leave that kind of stress behind it. okay, well, i'm hearing a little bit of a mixed message from you. but what we also know is that g d p in india, overtook the u. k in this quarter to become the 5th, 5th largest economy, behind the us, china, japan, and germany. we're also seeing china status diminishing on the global stage is in the are going to be taking place. what do you think? well yeah, that's, that's the buzz wouldn't, has created a given rise to low celebration india that will be in the economy. b, a u. k. is but then that's only strictly in terms of the g d p growth in terms of per capita g d, p and you're still far, far behind you. k,
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it is also behind china. and a lot of going to say that in the us, structural problems are not enabling the economy to unleash the potential that it really has. so while it always becomes a point of discussion to find out whether india or when will india overtake china, the point is that it didn't go on him is yet to predict a structural a defects manufacturing for example, which used to be the main stay and which is responsible for the largest number of jobs in the countries yet to take off. manufacturing growth in manufacturing is not picking up jobs in manufacturing or not coming back and for, for, for the economy to, to really move ahead and to beat other economies internationally. the sector is most critical and the expected growth in manufacturing sector especially is not happening. christy, right, char, kartik, i and dolly, thank you for those insights. let's have a look at some of the other global business stories making this the european
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central bank has raised its key interest rates by an unprecedented 75 basis points today. this is the 2nd time e. b has raised its main rate this year in an effort to curb or inflation in the euro areas, which stands at an all time high, 9 percent. meanwhile, the british pound has plummeted to its lowest level against the us dollar since $985.00. it's largely due to a weaker outlook expected for the ok economy. the bank of england expects the economy to shrink from now until the end of 2023. once again, the main reason rising energy costs due to russia, war and ukraine, and while prices have fallen to their lowest level brushes, invasion of ukraine and february brent crude drop below $88.00 a barrel amid looming recession risk for the global economy. surging inflation and rising interest rates are weighing on consumption. apple has unveiled its new iphone 14 models along with new earbuds and watches. despite price inflation across apple supply chains, it's kept the prices for the devices the same as last year. apple's last i phone
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was highly profitable to fight flowing global smartphone sale the textile industry and indonesia has struggled in recent years and has only just started recovering from a decline in demand to the pandemic. even though apparel is the key industry of the country still imports 99 percent of the carbon processes. now one startup is setting out to change that and reviving the industry with old methods. it was a radical change, of course, for danica, he adeney flesh when a few years ago, she and her dutch husband moved back to her homeland of indonesia quickly. they were drawn to remote villages, like here near to been on the island of java when i was in the villages last are realizing that there are women who flies are impacted by our everyday choice while we were. and i realized that i wanted to then build a bridge between people all around the world who care about this issue for care
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about where to close. come from with the very women who actually make it the very women who knew the plans that are used to make the clothes. in 2016, using her savings, she found at sue kat sita. let's indonesian for lack their mission, work with local women to revive their forefathers working techniques. like using plants to color, the cotton harvested in the fields. right. where you kind of showing that you can grow cotton in a way that's actually beneficial for the environment as beneficial for the farmers that doesn't require tons of pesticides and fertilizers, right? that's so important because they should have biggest footprint of fashion comes from the materials, especially when you're talking about climate change is actually more than half of the climate impact comes from the way closer grown or the fibers are made. and also how they died. today the start up is working with more than 1500 women on cotton
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fields is stretching over 20 hectares. the close produce here are sold online. the are social media and in their store in jakarta than he currently had any flesh says it wasn't easy to convince customers to spend more money in order to get a more sustainable product. we have to really work very hard to make sure there is enough awareness and therefore the man for all these products basically. and we were actually very happy because we managed to ship our it was prior to now over 30 countries and that managed to sustain all their field work that we do on the religious level. to day suca, sita is profitable and the founders want to even grow the business. the farm is said to be expanded to $1000.00 actors, all based on the expectation that more customers will put green and fair over cheap . a quick reminder of our top story. in the as economy grew,
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13.5 percent in the 2nd quarter. that's compared to the same period in the last year. it's an astonishing double digit figure out of time and other major economies are in trouble. well that's our show for more check us out a d, w dot com backslash business, and the d w. youtube channel. we're all on facebook. thanks for watching. i'll see you tomorrow, with a, with
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a more enemy on the russian border lies the finish village and their center where the residents are deeply divided. some of them want nothing to do with their russian neighbors. while others see them as human beings, not warmongers. focus on europe, 90 minutes on d, w. and we're interested in the global economy. our portfolio d w business beyond. here's a closer look at the project. our mission. to analyze the flight for market dominance. with
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managed by fraud lou with ah ah, this is dw news live from berlin. doctor's concerned for the health of britons. queen elizabeth buckingham palace has been 96 year old monarch is under medical supervision. the members of the royal family hurry to be by her side or so on. the show a renewed commitment to long term help or you crate. we will work together to train ukraine forces for the long haul.
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