There is a significant portion of mankind and the world economy at stake, as a senior representative of the International Monetary Fund (IMF) to India once stated, therefore developments in India have a dramatic impact on other nations in the area and worldwide.
According to all accounts, the world shouldn’t be too concerned about India’s ‘pretty robust’ 8.2% growth forecast by the IMF for 2022. India has undoubtedly endured a lot and accomplished a lot. Then, what? How does it plan to grow to a $5 trillion economy in five years?
Source : The financial expressGiven the impact on key industries like manufacturing and construction, maintaining an 8.2% real GDP growth would not be simple. This year’s significant capital expenditure push for infrastructure development is a positive move. To boost production and demand, innovative business practises that take advantage of global trends are required.It will be crucial for India to establish its objectives for the near future as the world begins to recover from the pandemic and with the few resources we have available. In our effort to become a $5 trillion economy, we should place a higher priority on business sectors that are fundamental in nature, can be grown across the nation, and have a significant local influence. We have identified three business areas that meet the aforementioned criteria by studying lessons from around the world and from India.A well-developed transit infrastructure comes first. As a result, accessibility and mobility are improved, communities are connected, trade is made easier, more job opportunities are created, and total economic output is increased. Innovations in technology and the digital realm can be crucial for advancing transit systems.Tell us your views in the comment section.
We predict that three industries will propel India’s economy to $5 trillion in growth
By tirupatinews
