India, fastest-growing trillion-dollar economy in the world

Business opportunities in India

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India is the fastest-growing trillion-dollar economy in the world and the seventh-largest overall, with a nominal GDP of $2.72 trillion. India is expected to become the fifth-largest economy as per IMF projection.

Business opportunities in India : Here are the potential growth sectors in India :


Manufacturing sector in India

17 per cent of India’s GDP is represented by its manufacturing sector, in contrast to the 53 per cent of the services sector. The manufacturing sector of India has the potential to reach US$ 1 trillion by 2025 .

India is expected to rank amongst the top three growth economies and manufacturing destination of the world by the year 2020.

Among India’s fastest growing industries are automobile industry, food processing industry and electronic goods manufacturing industry.

Make in India

Project of Make in India is a “Be Indian and Made Indian” type of Swadeshi movement that covers the 25 sectors of economy. This plan was launched by the Government of India on 25 September 2014 to encourage companies to manufacture their products in India.

Banking

Banking helps a country to spread banking activities in rural and semi urban areas. India is primarily an Agricultural based nation. Agriculture is the backbone of economy of any country like India. The commercial banks help the large agricultural sector in developing countries. They provide loans to traders in agricultural commodities.

Make in India is a national campaign that promotes manufacturing growth for both domestic and international products.

Information technology

Digital India is a campaign launched by the Government of India to provide Government’s services which are made available to citizens electronically by improved online infrastructure and by increasing Internet connectivity.

Project Digital India is based on:
EGovernance – Reforming government through Technology, EKranti – Electronic delivery of services, Information for all, http://qtcinfotech.com/ Electronics Manufacturing with the target of net zero Imports, Broadband Highways,Universal Access to Phones ,Public Internet Access Programme.

Real estate

Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025.

Real Estate can be classified in the following categories:

Residential real estate: These includes both new construction and resale homes. Commercial real estate: These includes shopping centers and strip malls, medical and educational buildings, hotels and offices, Industrial real estate and the land.

The inventory of unsold real estate assets is growing and it is expected the market will undergo price corrections.

Retail industry

Retailing in India is one of the main feature of its economy and accounts for about 10 percent of its GDP. The Indian retail market is estimated to be US$ 600 billion and one of the top five retail markets in the world by economic value.

Retailers can buy products from a middleman, known as a wholesaler or distributor. The wholesale company consolidates the products from around the world. It repackages them for easier marketing and distribution.

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Tourism services

An economic impact analysis of tourism activity normally focuses on changes in sales, income, and employment in a region resulting from tourism activity.

The tourism industry contributes 7.3 per cent of GDP and accounts for 6.5 per cent of total exports. In addition to this tourism sector contribute 2.7 per cent of the total employment in the economy.

India celebrates the unity in diversity with so many cultural and national festivals generating business for millions all the year around.

6 comments on “India, fastest-growing trillion-dollar economy in the world”

  1. Economy or GDP can’t be a criteria for to judge development of a nation. A nation is considered developed when it excels in basic needs, education, employment, health, gender equality, safety of women, religious harmony, etc. If GDP is very high but still a country is lacking in these fields it can’t be considered developed.

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    1. Yes, I agree. Basically we are talking about developing nations and not developed one. If you compare the living standard and earning of a middle-class man from the past few years ago, it’s constantly uplifting, although I consider the basic amenities are also growing in India but not relatively to Population growth.

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    2. So, eventually high earnings leads to high expenditure in the market that in turn will increase the flow of money in the market and which will contribute towards increasing economy of the nation.

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      1. It is not necessary that high earnings will be spent and result in economy. Many people especially rich accumulate money instead of spending it. Many hoard black money. Gap between rich and poor is increasing day by day instead of decreasing.

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