India is currently in the midst of its general elections, with Prime Minister Narendra Modi able to proudly claim that the country is hosting the largest election in the world while also being the fastest-growing major economy. With a GDP of $3.5 trillion, India now ranks as the fifth largest economy globally, surpassing that of its former colonial ruler, Britain. The government is heavily investing in various sectors such as roads, railways, ports, energy, and digital infrastructure, attracting the attention of many multinational companies looking to diversify their supply chains by including India in their strategies.
Despite its economic progress, India still faces challenges such as underemployment and low participation of women in the workforce compared to global standards. Private investment in India is also lower than it was before the 2008 global financial crisis, highlighting the need for sustained efforts to maintain economic growth. When Mr. Modi assumed office, India’s income per person was only a fifth of China’s gap that remains unchanged today.
Projections suggest that India’s GDP could reach $6 trillion in the next five years if sustained efforts are made to maintain economic growth and development. This would solidify its position as the third-largest economy in the world. However, six books offer insights into India’s complex economic landscape and mixed record of Mr. Modi’s economic policies which will be crucial for shaping upcoming election results potentially securing Mr. Modi a third term as Prime Minister.
India’s economy has shown remarkable growth over recent years but it still faces challenges such as underemployment and low participation of women in the workforce compared to global standards.
Sustained efforts are needed to maintain economic growth and development if India wants to reach its full potential.
The government’s investments have attracted multinational companies looking to diversify their supply chains by including India.
Projections suggest that India’s GDP could reach $6 trillion in five years if sustained efforts are made.
Six books offer insights into India’s complex economic landscape and mixed record of Mr. Modi’s economic policies which will be crucial for shaping upcoming election results potentially securing Mr. Modi a third term as Prime Minister.