Tuesday, 24 December 2019

India Economy is growing at slow pace



The economy of India is a developing market economy. It is the world's 5th largest economy by nominal GDP and the 3rd largest by purchasing power parity. The long-term growth potential exists for the Indian economy. It has a young population and good savings and investment rates. The country is increasing the integration into the global economy. The economy slowed in 2017 due to shocks of demonetisation in 2016 and introduction of Goods and Services Tax in 2017.

Demonetization was initiated with a wide array of motives, such as stripping the Indian economy of its black money, pushing people to pay taxes for the unaccounted pile of cash, curb terrorism, promote the digital India movement and make India a profitable cashless economy.

About 60% of India's GDP is driven by domestic private consumption. It continues to remain the world's 6th largest consumer market. India's GDP is also fueled by government spending, investment, and exports. In 2018, India was the world's 10th largest importer and the 19th largest exporter.

The economic history of India began with the Indus Valley Civilization (3300–1300 BCE). The economy of that civilization appeared to have depended significantly on trade and examples of overseas trade. The Indus-Mesopotamia relations are notable. The Vedic period saw countable units of precious useful metal being used for exchange.

Here are the largest Companies in India: Rajesh Exports Limited, Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited, Tata Motors, State Bank of India, Oil and Natural Gas Corporation Limited, Reliance Industries Limited. Industry: Conglomerate and Indian Oil Corporation.

FedEx has expanded its service in India. The coverage went from 4,000 postal codes to over 19,000 in India. FedEx now offers end-to-end logistics solutions, including international and domestic air express services, domestic ground services, warehousing and supply chain management.

The British imperialism of India was a certain time when the British ruled Colonial India. The British came to India with plans to use their land and products for profit. In doing so, there were certain economic and ethical issues that caused many conflicts.

India ranked 4th in terms of growth in the share of the ICT sector's value added in GDP between the years of 2010 and 2017.

India’s economy has been growing at its slowest pace in more than 6 years between July – September. Unemployment remains quite high. India was once among the fastest growing large economies. It has significantly slowed. The country is grappling with rising debt and falling tax revenues.

India’s government must take quick steps to reverse the economic slowdown of the economy. It was before one of the faster engines of global growth. The problems are declining consumption and investment. There is also falling tax revenue.

Urgent policy actions are required to return India to a high growth situation. Cutting debt would be a good idea. They need to free up financial resources that can be used for investment.

India's economy grew at its slowest pace in more than six years in the July-September period. It fell to 4.5 percent from 7 percent a year ago.










2 comments:

  1. There are some interesting points in time in this article but I don’t know if I see all of them center to heart. There is some validity but I will take hold opinion until I look into it further. Good article, thanks and we want more! Added to FeedBurner as well

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    1. Thanks for liking the informative article about India's economy.

      FeedBurner seems to be a web feed management service that provides custom RSS feeds and management tools for bloggers, podcasters and other web-based content publishers. It was founded in 2004 and acquired by Google in 2007.

      India's economy continues to struggle right now.

      India's real GDP (Gross Domestic Product) is really estimated to contract by 7.7% in 2020-21, compared to a growth rate of 4.2% in 2019-20, with Real GVA (Gross Valued added) shrinking by 7.2%, as per advance estimates released by the National Statistical Office (NSO).

      India had a year of greater growth. The Indian economy clocked a 10.08% growth rate in 2006-07 under the then Prime Minister Manmohan Singh, the highest since liberalisation of the economy in 1991, according to an official data.

      India has been ranked among the 10 wealthiest countries globally with total individual wealth of $5,200 billion, but this is largely owing to its large population, a report said, adding that on a per capita basis, the average Indian is "quite poor".

      India is now in a recession. India seems to be faring worse than most major economies. The Covid-19 lockdowns hurt the Indian economy pretty badly, it appears.

      It seems that India and Pakistan are suffering a new COVID-19 surge.

      India and Pakistan really reported a big jump in new coronavirus infections on Thursday, driven by a resurgence in cases in their richest states.

      While authorities in India have mainly blamed crowding and an overall reluctance to wear masks for its spike, Pakistan says the UK variant of the virus found in the country could also be a factor.


      India actually had the worst rise in infections since early December. India’s total cases stood at 11.47 million, the highest after the United States and Brazil. Deaths rose by 172 to 159,216, according to health ministry data on Thursday.

      In Pakistan, most of the new cases came from Pakistan’s largest and richest province, Punjab.

      Pakistani minister Asad Umar said on Twitter that hospital beds were filling fast, warning of stricter curbs if rules were not followed.

      Read more here:
      https://financialpost.com/pmn/business-pmn/india-and-pakistan-suffer-new-covid-19-surge - India and Pakistan are suffering a new COVID-19 surge

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