Macroeconomic environment in two countries


Macroeconomic environment in two countries


Managerial Economics


Case Study Assignment Brief


  1. Project question


A major multinational corporation has appointed you as an economic advisor. You are requested to compile a report regarding the macroeconomic environment in two countries where the firm operates and explain how it might affect the company’s economic activity. The suggested firm to use for this case study is ExxonMobil in the context of its operations in Guyana. However, students have the option to choose any other firm they wish.


  1. Project specifications


  1. You may choose to focus your analysis on any existing firm with international activity that can be of different types in the two countries.


  1. The two countries must be chosen from section C below as follows: one country from List 1 and one country from List 2.


  1. Your report must include:


  1. A brief description of the company and the product/market it operates in for both countries.


  1. An analysis of the market structure in which your company operates for the two countries.


  1. A comparative analysis of all major macroeconomic indicators (see section D below, excluding 5 and 8) for the two countries and their overall impact on firm’s economic activity.


  1. An analysis of the monetary and fiscal policy (instruments) for the two countries and their impact on the firm’s economic activity. You must include here an analysis of the interest rates



  1. An analysis of the foreign trade policy instruments (international trade agreements) for the two countries and their impact on firm’s economic activity. You should include here an analysis of the exchange rates 1


  1. Country Lists

  List 1   List 2  
  Guyana China
  France India
  United Kingdom Brazil
  United States Russia
  Japan Mexico

  1. Macroeconomic indicators1 to be analysed (the last available 10 years):


  1. GDP growth rate

  1. GDP per capita at constant prices

  1. Inflation rate (CPI)

  1. Unemployment rate (ILO measure)

  1. Interest rate (Monetary Policy Rate)2

  1. General government balances (% of GDP)

  1. Balance of Payments (% of GDP)

  1. Exchange rates (National Currency/USD OR National Currency/Euro)3

  • We recommend that you use the IMF database to collect your data for most of these macroeconomic indicators.


  • Data available from the relevant Central Banks websites


  • ibid


What is a case study?

A case study is a detailed story of something your company did. It includes a beginning — often discussing a conflict, an explanation of what happened next, and a resolution that explains how the company solved or improved on something. A great case study is also often filled with research and stats to back up points made about a project’s results.

Case studies are a scientific and critical exploration of a situation or a phenomenon that poses a problem and requires providing suggested solutions, recommendations and pathway to avoiding similar problems in future

The structure of a good case study just cannot be fit into a single universal pattern or copied directly from a sample case study since case studies differ in topics and writing requirements. Yet several important components cannot be skipped because they establish the valuable core and supporting elements of logical and persuasive reasoning.

The following will be the case study format that you will be using

  • Cover page
  • Content
  • Executive Summary
  • Given Case Study (The original case study must be  re-state)
  • Summary of the Case (paraphrase not exceeding 30% of the original word count of the orinal case study)
  • Introduction
  • Analysis /Issues to be solved (responding to the questions in detail using many course concepts/images/illustration as possible, and demonstrate these within the context of their application in the case)
  • Limitation in the case (identify any weakness/s in the case given)
  • Recommendations/solutions (mitigation strategy for addressing the limitations)
  • Conclusion
  • References (APA style)
  • Appendices (if applicable)

An introduction can be brief and just mention the issue to be discussed. Analysis Overview constitutes the body and takes up the majority of the paper; here you provide the context of the matter of discussion, highlight what needs to be solved and what theoretical premises can be applied for analysis from the case given. The Conclusion restates major findings and solutions but very concisely, and may also prompt the further path of exploration in the field.

Important: Make sure you support your ideas with enough justification from the case. Facts, figures, Theories, etc., MUST have source citation/s

Font: Times New Roman, 12pt, Justify

Margin: 1 inch all around

Spacing: 1.5

Referencing: APA style

Word count: Not less than 3000, not exceeding 5000. The word count must not include the following: the case study, case study summary, images, and related illustration/s)

Important: Facts must be supported with relevant referencing. No plagiarism

Case Study Evaluation


Evaluation Criteria Descriptors Score Score awarded
Presentation and structure Overall structure and layout of paper which includes: Cover page, table of contents, Executive Summary, Introduction, font size & spacing, grammar, correct referencing style and academic citations, appendices, tables and figures, and word limit. (Glossary where applicable). Structure should be coherent.


Research Problem / question Clearly defined research problem or case study question; significance to the discipline in theory and practice; novelty; originality; ethical; feasibility; current, interesting, clear and unambiguous (A good research problem is one that can be attacked empirically that meet these criteria.) Where case studies are given, demonstrate analytical ability and discuss the application of various concepts. 10  
Objective of research Clearly defined and meaningful objectives, which ensures that the findings are relevant to decision makers. Objectives should be concise; should follow a logical sequence; realistic; phrased in operational terms; should use action verbs specific enough to be evaluated and measured (e.g., assess, determine, compare, verify, calculate, describe). 10  
Research methodology Purpose clearly defined, research process detailed, research design thoroughly planned, limitations frankly revealed and procedural flaws; thorough analysis for decision makers (solutions to complex problems); findings presented unambiguously; conclusions justified; systematic; logical, reliable outcome measures. very significant ability to plan, organize and execute independently a research project; coursework assignment or examination question. (a good research procedure should be described in adequate detail that another researcher can repeat the research for further advancement, keeping the continuity of what has already been attained). 25  
Quality of analysis, application of concept and originality Very significant ability to evaluate critically existing methodologies and suggest new approaches to current research approach or professional practice; very high levels of creativity, originality and independence of thought; very significant ability to evaluate literature and theory critically and make informed judgements; very significant ability to analyze data critically and demonstrate outstanding levels of accuracy, technical competence, organization and expression. 25  
Recommendation and conclusion Conclusion should be written to relate directly to the aims of the project as stated in introduction; indicate the extent to which the aims have been achieved; summarize the key findings, outcomes or information in report; acknowledge limitations and make recommendations. A good recommendation should include the steps that should be followed in future studies such as those needed to implement particular policies or actions; and any resources that would be required in the process should be well explained.  Recommendations should also aim to mitigate any limitation / weaknesses in case study within the context of the case study and appropriately formulated to alleviate the impact on the identified limitation. 20  
Total Score   100%  
Weighting of overall grade   30%  
Student Name:



Overall comment:    

Managerial Economics Case Study

Managerial Economics Case Study

Executive Summary

A leading manufacturer, producer, and distributor of oil, gas, and petrochemical products, ExxonMobil has established its operations in different parts of the world, including the United Kingdom and India. Conducting business in these countries necessitates adherence to the monetary, fiscal, political, and market requirements and further complying with governmental rules and policies that regulate the organization’s operations. As will be portrayed herein, ExxonMobil’s operations are characterized by different components shaping or influencing its sustainability within the nation and its surrounding neighbours. The depiction of these components will necessitate a thorough review of the monetary, fiscal, and political aspects of its economic activities. These will be coupled with an in-depth analysis and comparison of the countries in terms of their market structure, the effects of the major macroeconomic indicators, and local and foreign trade policies.


Exxon Mobil Corporation entails an international oil and gas company based in Irving, Texas. Originated from Standard Oil, owned by John D. Rockefeller, ExxonMobil was formulated and established on November 30, 1999, through a merger between Exxon (formerly Standard Oil Company of New Jersey) and Mobil (the former Standard Oil Company of New York). The primary commodities associated with the company include Exxon, Mobil, Esso, and ExxonMobil Chemical (ExxonMobil, 2019). Throughout the years, its operations have contributed to ExxonMobil being ranked one of the leading firms globally in terms of revenue.

Most fundamentally, between 2016 and 2017, ExxonMobil ranged between first position to the sixth in terms of market capitalization and public trading. In 2016, the company was position three in the Forbes Global 2000 list, while in 2017, ExxonMobil was number ten among the companies that made the most profits, as per Fortune 500. Subsequently, in 2018, ExxonMobil position two out of the largest organizations in America, as stipulated by 500 rankings based on total revenue (ExxonMobil, 2019). These accomplishments have been characterized by company shares distributed across different local and international institutions. For instance, a large portion (55.56%) of ExxonMobil’s shares is owned by institutions such as The Vanguard Group with 8.15%, BlackRock with 6.61%, and State Street Corporation with 4.83%, as of 2019.

As one of the Big Oil companies globally, ranked 14th, ExxonMobil produced 20 billion barrels of oil equivalent (BOE) as of 2016. Besides, ExxonMobil owns 37 refineries in more than 21 nations, which constitute a cumulative refining capacity of approximately 6.3 million barrels (1,000,000 m3) daily, pushing the company to position seven among largest global refiners. Despite these accomplishments, ExxonMobil has enjoyed its fair share of criticism based on its slow response to cleaning up efforts following the 1989 Alaskan oil spill that brought immeasurable damage to the environment in the world (Chart Industries, 2020). Additionally, ExxonMobil has been associated with a long history of lobbying activities and efforts to deny climate change and objection to the global warming consensus. Thus, ExxonMobil has employed various measures in minimising the environmental impact of its global operations. Still, the company remains the target of accusations related to inadequately addressing human rights issues, American’s foreign policy influence, and its effect on the future of other countries.

Nonetheless, ExxonMobil remains the largest company not owned by the government in the energy sector that produces an average 3% of the oil and an estimated 2% of the world’s energy. (ExxonMobil, 2019) Therefore, this case’s essence entails an in-depth overview and analysis of ExxonMobil’s operations by focusing on two countries, the United Kingdom and India. The analysis will delve into the market structure in which ExxonMobil operates for and within the two countries. These elements will be followed closely by a comparative analysis and analysis of the major macroeconomic indicators between the two countries and their potential effect on the economic activities within the company. Ultimately, this case study will analyse the foreign trade policy instruments applied in both countries.


ExxonMobil’s operations are organized into different global divisions categorised into three groups, including stand-alone and ancillary divisions such as Coals and Minerals (ExxonMobil, 2019). Today, ExxonMobil’s global operations are renowned for their popular brand names, Exxon, Esso, and Mobil. The company manufactures products that facilitate transportation in the modern world, powering cities, lubricating industries, and further providing petrochemical building blocks that foster the production of numerous consumer goods (Chart Industries, 2020).

ExxonMobil focuses on exploring oil, extracting, shipping, and wholesale operations within its upstream division. The downstream division specializes in marketing, refining, and retail operations for the company’s products. Lastly, the chemical businesses division is a merger between Exxon’s and Mobil’s chemical industries with main products that include olefins and aromatics, synthetic lubricant base stocks and additives, catalysts, and polyethylene, among others (ExxonMobil, 2019). These operations foster the identification, capturing, and evaluation of new oil and gas resources in the countries of operation. However, most of the production fields in which ExxonMobil is interested, especially in the North Sea, are operated by other companies as part of a joint venture. As a result, working in different locations around the world, ExxonMobil has, over the years, powered the economy of the neighbouring countries with significant investments in economic growth (ExxonMobil, 2019). These elements have facilitated the exemplification of the company’s commitment to supporting the communities within which it operates through education and economic empowerment, the provision of infrastructure, human capacity development, and health.

ExxonMobil’s Operations in the United Kingdom and Market Structure Analysis

Under the upstream division, ExxonMobil’s operations in the United Kingdom have involved activities such as the exploration and production of petroleum. Specifically, ExxonMobil holds or owns an average of 0.6 million acres (2,400 km2) of the land on the United Kingdom’s offshore. Across this vast property, ExxonMobil exploration activities have involved emphasis on the identification, acquisition, and evaluation of new oil and gas resources (ExxonMobil, 2019). As of 2019, ExxonMobil’s production activities entailed targeting approximately 40 production offshore oil and gas fields along the North Sea. Majority of the areas in which the company had targeted were operated by Shell U.K., boosting explorative and production operations as part of a collaborative effort (ExxonMobil, 2019). The code of practice applied in access the oil and gas infrastructure within the United Kingdom entails a voluntary agreement put in place by Oil & Gas UK in consultation with the Depart of Business, Energy, and Industrial Strategy (BEIS).

ExxonMobil’s operations in the United Kingdom have facilitated it rise in rankings as the largest oil pipeline distribution network, with approximately 700 kilometres of pipeline. Most of the United Kingdom’s refinery products are transported by pipeline to distribution terminals at Avonmouth, Birmingham, Hythe, Purfleet, and West London. The remaining products are transported by road or sea (ExxonMobil, 2019). In 2015, ExxonMobil invested £254 million in the United Kingdom North Sea, boosting its responsibility to an average of 5% of the oil and gas produced in the country. This investment and production activities further supplied the United Kingdom and other global markets with approximately 80,000 barrels of oil and approximately 441 million cubic feet of gas daily. Best known for its famous brands, Esso and Mobil, ExxonMobil remains the largest retailer in petrol across the United Kingdom. Thus, it serves around 800,000 customers daily through its retail network that comprises 1,100 Esso-branded service stations. Through its principal subsidiary in the United Kingdom, Esso, ExxonMobil is one of the largest offshore industry investors (FocusEconomics, 2021). However, investments in the North Sea are managed through 50/50 joint operations with Shell.

ExxonMobil in India and Market Structure Analysis

Incorporated and registered in May 1996, ExxonMobil has its presence in India through its upstream, downstream, and chemical businesses. Its offices are located in Bengaluru, Gurgaon, Mumbai, New Delhi, and the National Capital Region.  The upstream division focuses on providing consultancy and support services ranging from LNG business development and marketing, natural gas and support exploration and production services. On the other hand, the downstream division distributes, sells, and markets Mobil-branded lubricants and specialties (Chart Industries, 2020). Specifically, the downstream business sector has marketed fuel and lubricants in India since 1995 under the Mobil brand through operations such as importation of base oils, lubricant oil branding, packaging, and distribution and marketing. The chemical business is carried out as a service provider to other marketing agents for other ExxonMobil affiliates, facilitating imports and inland sales through distributors and directly to consumers and business analysis since 1986 (The Economic Times, 2021). For instance, in Bengaluru, ExxonMobil has a Technology Center that delivers development support. The business and the technical support centres provide various services for ExxonMobil’s operations worldwide.

ExxonMobil, operating as ExxonMobil Company India Private Limited, entails an Indian non-government firm with a private unlisted firm and a company listed by share. Specifically, ExxonMobil’s authorized capital in India stands at Rs 3500 lakhs and a 55.14429% paid-up capital (Rs 1930.05 lakhs). The last annual general meeting (AGM) for ExxonMobil Company India Private Limited was held on 29 September 2017. The company’s previous financial updates were done on 31 March 2017 as per the Ministry of Corporate Affairs (The Economic Times, 2021).

Comparative Analysis in the Major Macroeconomic Indicators

Indeed, a country’s gross domestic product (GDP) serves as a significant indicator of the national economy’s shape. In the United Kingdom, the gross domestic product (GDP) growth rate has portrayed levelling prospects in recent years after a lengthy period of the effects following the 2008 financial collapse (Monetary Policy Committee, 2020). With a constant increase in the population from 65.1 million to 66.9 million between 2015 and 2019, the nation’s GDP growth rate has significantly declined from 2.36% to 1.46% in the same period. However, projections indicate that the economy should recover this year following the potential easement of the effect of the Covid-19 pandemic and other monetary or fiscal boost. The decline in the UK’s GDP growth rate has been associated with numerous factors that include the Brexit disruption that continues to subject the nation to limitations in the access to the EU market and further indicates constraints over the growth momentum (Qiang & Kusek, 2020). The catastrophic events associated with the exit from the EU, coupled with the prolonged social distancing measures brought along the Covid-19 pandemic, have posed, and continue to pose, downside risks.

Nonetheless, the economy is expected to expand by approximately 6.0% in 2021. Following this trend, the GDP per capita at constant prices between 2015 and 2019 was USD 45 001 and USD 42 294, respectively. Though the trend portrays an increase, the rate has fluctuated exponentially, and similar patterns have been observed between 2020 and 2021 (Trading Economics, 2020).

More precisely, between 2020 and 2021, the UK’s GDP growth rate stands at an moderate rate of 1.0% from 16.1% in the third quarter. Similarly, the inflation rate, based on an annual variation of the consumer price index (CPI), in the United Kingdom was approximately 1.79% as of 2019 as compared to the previous years (See Appendix below) (FocusEconomics, 2021). Following this trend, the unemployment rate, based on the active population percentage, stood at 3.8% in 2019, a decline from 5.4% in 2015 and 4.1% in 2018. Nevertheless, the policy interest rate applied in the United Kingdom averaged at 0.75% between 2018 and 2019, while the general government’s balance (fiscal balance calculated as a percentage of the GDP) in the same period declined by 2.1% (-2.1%), indicating a steady decline between 2015 and 2019 (US Department of State, 2020). During this period, the balance of payments stood at -129.7 GBP billion in 2019, a slight increase from -139.4 GBP billion in 2018. Based on an average period (aop), the UK’s exchange rate has portrayed volatility in recent years amid political turmoil regarding Brexit and debate over when formal negotiations should be initiated with the European Union. In 2019, the exchange rate averaged 1.33 GBP per USD, a slight increase from 1.28 in 2018 (FocusEconomics, 2021).

In India, the GDP growth rate declined from 6.1% in 2018 to approximately 4.8% in 2019. This slowed growth depicted a significant reduction in consumption across the private sector, manufacturing, construction, and agriculture activity. Moreover, the stock of foreign direct investment (FDI) in India experienced a decline since 2019, mirroring a similar decline in India’s private investment (Shroff, Pandey, & Nijhawan, 2021). During this period, the substantial increase in demographics indicated that India should have generated millions of job opportunities annually. However, based on the informal economy’s large size, India’s unemployment rate rose exponentially to 5.36%, a 0.03% increase from 2018 at 5.33%. Following this pattern, the GDP per capita at constant prices in 2019 stood at USD 2,113, increasing from USD 2,023 in 2018 (FocusEconomics, 2021). During the same period, India’s inflation rate amounted to 4.76%, considering the increase in price across commonly consumed commodities.

Simultaneously, India’s monetary policy interest rate in 2019 was 4.40%, a decline from 6.25% in the previous year, while general government balances during this period were USD -57 billion. Similarly, the balance of payments in 2019 stood at USD -153.5 billion, while the exchange rates in India were 70.91 vs. USD on an average period (aop) and as a percentage of the GDP (US Department of State, 2020).

Macroeconomic Indicator in 2019 United Kingdom India
GDP Growth rate 1.46% 4.8%
GDP per capita at constant prices USD 42,294 USD 2,113
Inflation Rate (CPI) 1.79% 4.76%
Unemployment Rate 3.8% 5.36%
Interest Rate Monetary Policy rate 0.75% 4.40%
General government balances -2.1% of GDP USD -57 billion
Balance of Payments -129.7 GBP billion -153.5 USD billion
Exchange rate 1.33 GBP per USD 70.91 vs. USD on an average period (aop)

Monetary and Fiscal Policy Analysis and their Impact on ExxonMobil’s Economic Activity

ExxonMobil’s results in the economy in each country are vulnerable to various threats embedded in the global oil, gas, and petrochemical businesses. Most of these threats extend beyond the ability or control of the company and pose adverse effects to its business operations and financial condition. Specifically, the country’s economic conditions in which ExxonMobil operates may lead to undesired effects on its operations due to various factors. Among the top factors include the increase in demand for energy and petrochemicals, directly associated with expansive activities and prosperity levels (World Bank Group, 2020). However, when recessions occur or other instances characterized by negative or low economic growth tends to impact ExxonMobil’s economic activities and operations directly. Additional components that adversely impact the company’s economic conditions and activities and the country of operation include changes in the rate of population growth, civil upheaval, austerity programs put forth by the government, trade tariffs, public health or security concerns, or fluctuations in the exchange rate on the currency (Shroff, Pandey, Nijhawan, 2021). Their impact occurs due to changes in the demand for energy and petrochemicals.

Thus, these factors are coupled with other aspects that include downgrading debt within the sovereign nation, limitations to accessing debt markets following legal constraints, and restructuring of monetary, fiscal, or political systems such as the European Union.  These components impair the functionality of the financial markets and the nation, in general, (Qiang & Kusek, 2020). They collectively pose different threats to ExxonMobil, including predisposing the company to the security risks to its financial assets and that of its customers and partners in terms of their ability to fulfil their dedication to the firm. For instance, due to the Brexit movement in the United Kingdom, the policy interest rate has since 2018 stagnated at 0.75% due to the ongoing debate and the uncertainty of its monetary, fiscal, and political restructuring economy. Moreover, the outbreak of the Covid-19 pandemic has brought along unforeseen effects to the world by limiting movements, requiring social distancing measures, and locking down businesses within countries. These events have contributed to a continuous decline in the country’s inflation rate (-1.79% by 2019) and an unemployment rate at 76.6% (Trading Economics, 2020).

Similarly, the Indian market is characterized by various factors that may affect ExxonMobil’s economic activities. For instance, when the World Bank anticipates that the rate of inflation may fall below the government’s targeted level (2%), the growth of the economy tends to be slow down. At the same time, the economy faces a recession. As a result, interest rates are strategically reduced (loose monetary policy effect) (World Bank Group, 2020). Alternatively, suppose the world bank anticipates a rapid growth in the economy and inflation may exceed the government’s targeted level, its increase interest rates to regulate economic growth and further minimize pressure related to inflation, the tight monetary policy effect. In the latter case, an increase in the interest rate leads to a decline in consumer expenditure and investment, resulting in inflation. As of 2019, India’s policy interest rate stood at 4.76%, an increase from 3.4% in the previous year.

Akin to India’s case, the UK has faced similar incidents in the interest rate, leading to potential threats to ExxonMobil’s economic activities since an increase in the interest rate hinders consumer spending and investment lower inflation rate (US Department of State, 2020). The company’s performance in the economy is predisposed to adverse effects due to inflation and interest rate changes, fluctuations in the currency exchange rate, and other market condition at the local and regional levels.

Analysis of the Foreign Trade Policy Instruments and their impact on ExxonMobil’s Economic Activity

Undoubtedly, political and governmental activities can adversely affect ExxonMobil’s economic activities through limitations in the accessibility in its oil and gas resources. For instance, limiting foreign investments in the oil and gas sector lead to a significant boost in the price of the commodities, especially when national governments do not portray any need for capital from external sources (Monetary Policy Committee, 2020). Specifically, a decrease in the aggregate demand leads to the government cutting expenditure (G) and increasing taxes. The increase in taxes reduces consumer spending, and the fiscal policy’s rigidity will cause an improvement in the government budget deficit. However, when faced with situations that lead to an increase in the aggregate demand, the government tends to increase its expenditure and further cut taxes. By lowering taxes, consumer expenditure increases exponentially due to the rise in their disposable income, which, in turn, worsens the government budget deficit and the need to increasing borrowing (Qiang & Kusek, 2020).

Following the Covid-19 pandemic, the UK and India have pursued expansionary fiscal policies to stabilize and sustain operations within the country. As a result, both governments have been forced to cut VAT to boost consumer spending, translating into a significant increase in government borrowing (Trading Economics, 2020). The increased borrowing has lowered the countries’ currency value, leading to fluctuations in the currency exchange rate. For instance, by the end of 2019, the UK’s exchange rate averaged at 1.33 GBP per USD, while India was 70.91 per USD on an average period (FocusEconomics, 2021).


Limitations in the Case Study and Recommendations

Although much of the information is available on different sources, it is quite challenging to determine their validity and reliability. Besides, verifying the data presented in these sources is a cumbersome and time-consuming task that requires in-depth analysis and comparison of the information from the country’s or company’s website and physical records. Another limitation arises when these companies fail to voluntarily produce their data in fear that such disclosure may expose competitively sensitive commercial information, leading to violation of non-disclosure laws. To address these challenges, it would be important to seek the relevant information from the recommended sources that range from government sites, publicly released data from the company, and publications on the recent activities.




Despite its success in different countries, ExxonMobil, akin to other international organizations, is faced with numerous challenges characterized by monetary, fiscal, and political changes or restructuring within the country of operation. These changes bring along limitations to the local and foreign expenditure that further culminate in changes in the interest and exchange rates based on the people and businesses’ ability to spend their income on different products. Most fundamentally, government and political factors significantly affect ExxonMobil’s economic activities. They lead to adverse effects that affect operations, limit access to various commodities and services, and put laws and sanctions that prohibit the company from doing business in some countries.


Chart Industries. (2020, February 24). ExxonMobil, Indian oil, and chart industries pioneer virtual gas pipelines for India. GlobeNewswire News Room.

The Economic Times. (2021, January 16). Information – Company profile: ExxonMobil Company India Private Limited

ExxonMobil. (2019, May 9). UK operations | ExxonMobil United Kingdom

ExxonMobil. (2019, May 9). Operations overview

FocusEconomics. (2021). United Kingdom economy – GDP, inflation, CPI, and interest rate. FocusEconomics | Economic Forecasts from the World’s Leading Economists.

FocusEconomics. (2021). India’s economy – GDP, inflation, CPI, and interest rate. FocusEconomics | Economic Forecasts from the World’s Leading Economists.

Monetary Policy Committee. (2020, August). Monetary Policy at the Bank of England. Bank of England.

Press Trust of India. (n.d.). Exxon Mobil in talks to buy a stake in Indian oil, gas fields: Pradhan. Business News, Finance News, India News, BSE/NSE News, Stock Markets News, Sensex NIFTY, Latest Breaking News Headlines.

Qiang, C. Z., & Kusek, P. (2020). Global Investment Competitiveness Report 2019/2020.

Shroff, S. S., Pandey, R. K., & Nijhawan, V. (2021). Investing in India. Thomson Reuters.

Trading Economics. (2020). United Kingdom GDP growth rate | 1955-2020 data | 2021-2022 forecast | Calendar. TRADING ECONOMICS | 20 million INDICATORS FROM 196 COUNTRIES.

US Department of State. (2020, December 4). Custom Report Excerpts: United Kingdom Bureau of Economic and Business Affairs. United States Department of State.

US Department of State. (2020, September 4). 2020 Investment Climate Statements: India. United States Department of State.

World Bank Group. (2020). Rebuilding Investor Confidence in Times of Uncertainty- Global Investment Competitiveness Report 2019/2020. 2020 International Bank for Reconstruction and Development / The World Bank.


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