India is currently experiencing its general elections, with Prime Minister Narendra Modi proudly boasting that the country is hosting the world’s largest election 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.
The upcoming election results are expected to be significantly influenced by India’s economic growth and development. Projections suggest that India’s GDP could reach $6 trillion in the next five years, solidifying its position as the third-largest economy in the world. However, 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 has been 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 income per person; this gap remains unchanged today. As India navigates its economic journey, six books offer insights into the country’s complex economic landscape and the mixed record of Mr. Modi’s economic policies.
India is currently facing several challenges such as underemployment and low participation of women in the workforce compared to global standards. Despite its economic progress over recent years, private investment in India has been lower than it was before the 2008 global financial crisis.
Mr. Modi has been able to claim that he has successfully led one of the fastest-growing major economies globally during his time as Prime Minister.
The Indian government has invested heavily in various sectors such as roads, railways, ports, energy and digital infrastructure which have attracted multinational companies looking to diversify their supply chains by including India in their strategies.
Projections suggest that if Mr. Modi wins another term as Prime Minister; he will secure his place among those who have contributed significantly towards shaping up India’s economy.
However; there are still challenges that need to be addressed such as underemployment and low participation of women in
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