Thread: Indian Economic growth

The growth in Indian economy seems to be steady for a long period of time which hints us that India would soon become an economic superpower. The Indian Economy could further do well if the domestic industries and markets do well over the time making India self sufficient. Nevertheless India has a bright future as even various international economists see India a potential market place to initiate new business.

Indian economic growth mainly depends up on the agriculture of the country as the companies which are opened in india are usually and excessively flooded with MNC's which are the international companies getting deep rooted in our land. So the indian economy does not get much remuneration or revenue from these companies but yes, from the agriculture.

Indian economy hurt from March to June. The inflation is consistently increasing due to US and UK crises and other national problems. So, RBI has increased rates 10 times and is likely to increase further on July 26th discussion which will hurt the economic growth in return. The indian economic growth is no doubt is less and people are inclined towards more and more international brands. This is also one of the reasons for the less economic growth.

The Economy of India is the tenth largest economy in the world with the country's per capita GDP being $3.339(IMF) in 2010.Agriculture is the largest source of GDP in India and is the source of income of almost 70% of the Indian population. Industry and services account for nearly 28% of GDP. The Banking sector, largely public based also accounts for a large share to Indian GDP. Although India's GDP has shown quite a commendable growth in the last few years yet we find that the country is paralysed by food inflation,oil hikes and rural poverty. The rationale for the same may be the fact that India is still a growing nation,which is largely inflicted by corruption.

Indian economic growth is steady and moving fast with great speed. It is the 6th fastest growing economies in the world. The conditions could be further improved if the major contributor that is Agriculture is refurbished with improved technologies and machinery to improve the productivity. According to the statistics India could have 60% larger economy than what US has now if it continues to grow at the same pace.