India in 2015: A Strategic Shift in Economic Growth

India is one of the oldest civilizations and the second most populous country with more than 1.22 billion people. A country with a high percentage of young population – 47% of the population is less than 25 years of age. The country has been posting a positive GDP number successively as compared to most of the developed economies who continue to suffer from the recessionary trends since 2008. The country offers many opportunities for investment and growth. The sheer size of the market is mouth watering for the Multi-national companies (MNC). With the economic development, the income levels of people are increasing and the number of middle class families is on the rise offering a very lucrative market for vendors. There is an ever increasing pressure on the government to open up many sectors for FDI like the multi-brand retailing and create a friendly environment for increasing investment in sectors like infrastructure. Though the government is facing many pressure groups within and outside the parliament against the policy initiatives, the hold-up can not continue for too long. The government will have to bite the bullet and face the consequences. This article highlights some of the opportunities available for investment to be exploited by local business entities or by the MNCs.

2015

China and India, the two Asian giants are looked upon as being superpowers, particularly in the realm of trade. The two countries have been adopting different paths, in their gaining consideration as the two fastest growing economies in the Post Reform period. Immediately after independence India was one of the most tightly controlled economies. But with the opening of the economy in the eighties and more specifically after 1991 and the abolition of Licensing Raj and policy of intense protectionism, Indian economy has made rapid strides in certain crucial sectors. Several problems such as Poverty, Population explosion, illiteracy and absence of basic infrastructure, seem to be plaguing our economy. No doubt she has her areas of strength. But on comparison with her Chinese counterpart, there are bitter lessons that she has to learn from her neighbor. Indian economy, though at present on an economic decline, hopefully on a temporary basis, has to gear up all her reserves, if she has t...

The Economic Transcript, 2022

While the world was still recovering from the unprecedented COVID-19 Pandemic, it has been challenged with yet another drawback, the Russia-Ukraine War, causing a huge impact on the global supply chain, bringing about catastrophic food, fuel, and gas shortages around the world. Closer to home, several factors such as a badly affected tourism industry, misgovernance, corruption, tax cuts, and a policy to shift to organic farming have pushed Sri Lanka into bankruptcy. Bangladesh and Pakistan have also been forced to approach the IMF for a financial bailout package. To add to this, the recent visit of Nancy Pelosi, the US House of Representatives Speaker, to Taiwan has heightened tensions between China and the US, two economic and nuclear superpowers. China's reaction to this visit will further affect the SouthEast Asian region and all economies that trade with the three countries. Global economic growth, as per the International Monetary Fund (IMF), is expected to slow down from around 6.1% in 2021 to a meagre 3.6% in 2022-23. The WHO has declared the current Monkeypox outbreak (more than 23,000 cases reported from 83 countries), a Global Health Emergency. With this, it is appropriate to acknowledge that we are headed toward one of the worst economic crises of recent times. The question that now arises is, how will India, the fastest growing major economy in the world (8.7% growth in GDP in the financial year 2021-22 according to the NSO), be affected and handle this mess?

GIS SCIENCE JOURNAL, 2024

India's aspirational goal of building a $5 trillion economy has a broad framework that includes developing strong policies, putting plans into practice, looking for opportunities, and getting over barriers. This essay explores the various facets of India's vision for economic growth and examines the crucial elements that

2007

GIS SCIENCE JOURNAL, 2022

India has the fourth-largest economy in the world. In 2017, $9.4 trillion worth of goods and services were produced. However, it still has a ways to go before surpassing the top three-China, the EU, and the US. In the 2010s, poverty in India decreased by around 10%. Due to the depreciating currency and rising oil prices, the international rating agency Bond rating Service has reduced India's growth predictions from 7.7% to 7%. India's annual overall Consumer Price Index inflation increased from less than 7% in July 2022 to 7.5% in September 2022. By 2027, India's economy is anticipated to overtake Japan and Germany to take third place in the globe. India will have the third-largest economy after the US and China and before Germany. India is regarded as one of the emerging superpowers in the world. Between 2022 and 2050, India's population is projected to grow by 273 million people. India has surpassed France and the UK to take over as the fifth-largest economy in the world. By 2030, it is anticipated that the country's GDP will be worth more than $10 trillion. The nation needs to diversify its energy sources, especially given its reliance on fossil fuels. India's rapid economic growth has been accompanied by a persistent current account deficit. India's call centre sector has profited from the country's large percentage of English speakers despite the nation's high rates of illiteracy. In 2014, the gross national income (GNI) of the US was 35 times more than the $1,560 per capita income of India. Less than the EU average of 45%, taxes make up less than 12% of the nation's GDP. The analysis of concepts and points of view in this study is organized. It only uses secondary data from sources that are heavily used for secondary data and are relevant to the study's topic. The study article highlights a significant, urgent, and relevant subject that is essential from a social, political, and economic standpoint. The study article's topic is immediately apparent from the title alone and is taken extremely seriously.

Asiatic Society for Social Science Research (ASSSR) e-ISSN 2582-502X, 2020

It is seen that besides a single tax structure, reformed FDI approval process, reduced corporate tax, India has not been able to attract huge foreign investment inflows as expected and required. The COVID 19 catastrophe has brought hope, an opportunity before dispirited India to wrest investment from the firms moving out from the Chinese region due to China’s role in COVID – 19. Still, many have expressed the doubts that it is not certain that companies will shift India. Investors’ dissatisfaction against India which started over delay in implementing arbitration award, cancellation of 2G spectrum licenses, and retrospectively amending the tax law, was the previous challenges which India was facing. In this study, we would examine how to grasp that opportunity. Besides fulfilling other infrastructure requirements such as matching production cost, supply chain, the legal and regulatory requirements would also be checked. This study is required as presently India is a party to only 14 BITs and negotiations on future BITs are pending.

India’s growth performance has improved significantly over the past 20 years, but has been uneven across industries and states. While some service industries, notably in the information and communications technology sector, have become highly competitive in world markets – yielding considerable gains for employees and investors – manufacturing industries have lagged and improved their performance only recently. A divergence in performance has taken place, with firms in those states and sectors with the best institutions gaining, and those in the more tightly regulated states and sectors falling further behind. As a result, the competitive landscape is uneven across sectors and states and a high degree of concentration continues to prevail in different industries. While this is partly the result of the legacy of licensing, change has been politically difficult, making it harder for the manufacturing sector than for the service sector to expand. The need for further institutional refo...

EY Economy Watch - September 2024, 2024

Economy Watch provides an in-depth review of salient developments in India’s macroeconomy and economic policy in a global context. It has established itself as a thought leadership publication, providing valuable inputs for policymakers in the central and state governments, academicians, industry and businesses and other stakeholders.

This paper provides an update on the historical and recent performance of the Indian economy. It reviews India’s growth performance, and the supporting performance of savings and investment, productivity and international trade. It highlights the performance of a dynamic sector (automobiles) and a laggard sector (agriculture) and comments on the structure of income growth in recent times. It also points out emerging constraints on rapid economic growth, e.g., increasing regional and personal inequality, rising unemployment, infrastructural constraints and the fiscal deficit. It assesses the prospects for economic growth in the near term.