American Trade war with China has created India as a business destination in Asia. Besides that India with about 65% of the young population and intellectual values thereon gives it an additional advantage. India is already the fifth largest economy in the world and will reach fourth position very soon by passing the economy of Germany.
Foreign investment was 34% of GDP in the year 2023 which had also increased business and export. It has also generated large cash in the Indian market. Besides that, the foreign investment was about 71 Billion Dollars in the year 2023.
The Indian government had invested about 36.5% in Bridges and Roads. While 20 % was invested in the power sector. The 2.3 % was an investment in the Chemical Manufacturing Sector. Indian government encouraged 14 sectors by giving production-based incentives. The taxes are also reduced. The banking sector also improved its position by wring off bad loans which has started giving better returns. Besides that Indian government has completed the project of 72 Billion Dollars which has further strengthened the Indian economy.
The share market has improved gradually and several startups have come into the market. All these developments show a bright future for the Indian economy and now feel that the best is yet to come for India.
**************************
No comments:
Post a Comment