Richard
JF-Expert Member
- Oct 23, 2006
- 15,692
- 23,038
India became fifth largest economy last year and today its economy expected to grow at 6.9 for 2023 fiscal year according to the IMF economic review.
India's status as the fifth largest economy is the world came following data from https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD.
Also according to world economic forum India is now the world’s 5th largest economy India has leapfrog France and UK by ranking its economy on the basis of its nominal GDP.
Despite this growth India is still facing challenges from sustaining its infrastructure apart from other factors which drive growth including urbanization and technologies. According to Mc Kinsley Global Institute https://www.mckinsey.com/featured-i...opportunities-for-growth-and-transformationto elevate people from poverty to empowerment.
India can still create more conducive economic environment for its economy to grow in five ways which are acceptable living standards, improving urban infrastructure and unlocking potential for women, empowering people from poverty, manufacturing for India which will create jobs for people and riding the digital wave which will help to rise productivity, improving efficiency across major sectors of economy and radically changing provision of services in areas of healthcare and education.
Unlocking potential for women who contribute 17 percent of GDP, and only 24 percent of its workforce India plans to improve its women workforce by closing the gap in education and inclusion in financial and digital aspects.
Source: IMF, World Economic Forum, India’s ascent: Five opportunities for growth and transformation
Read the full report here: India’s ascent: Five opportunities for growth and transformation
India's status as the fifth largest economy is the world came following data from https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD.
Also according to world economic forum India is now the world’s 5th largest economy India has leapfrog France and UK by ranking its economy on the basis of its nominal GDP.
Despite this growth India is still facing challenges from sustaining its infrastructure apart from other factors which drive growth including urbanization and technologies. According to Mc Kinsley Global Institute https://www.mckinsey.com/featured-i...opportunities-for-growth-and-transformationto elevate people from poverty to empowerment.
India can still create more conducive economic environment for its economy to grow in five ways which are acceptable living standards, improving urban infrastructure and unlocking potential for women, empowering people from poverty, manufacturing for India which will create jobs for people and riding the digital wave which will help to rise productivity, improving efficiency across major sectors of economy and radically changing provision of services in areas of healthcare and education.
Unlocking potential for women who contribute 17 percent of GDP, and only 24 percent of its workforce India plans to improve its women workforce by closing the gap in education and inclusion in financial and digital aspects.
Source: IMF, World Economic Forum, India’s ascent: Five opportunities for growth and transformation
Read the full report here: India’s ascent: Five opportunities for growth and transformation