Indian Economy

Economics is a social science term that is familiar to all of us. If we talk about the Indian economy, it is ranked 12th in the world in terms of the dollar economy. India’s GDP is $ 1 trillion. Despite the World Bank’s announcement of a low-income economy, India is becoming the second fastest economy in the world. In India, GDP growth was recorded at 9.1%. Many countries of the world still consider India a poorly developed country, but the real fact is that it is one of the largest industrial giants.

Today, India is not limited to its traditional sector in agriculture. With the sharp mind of India, the economy of India is entering and gaining strength in new areas. The minds of the Indians are respected all over the world, so the Indians work as high-ranking officials in various sectors outside of India. The emergence of the Indian economy as the second fastest growing economy opened the door for India to begin global trade. Currently, the Indian economy is engaged in agriculture, crafts, manufacturing, IT, BPO, aviation, textile, oil and mining, and so on.

Recently, the Indian economy has grown tremendously due to foreign investment. India serves large new areas and in some sectors that are undoubtedly leading. India provides business and services to various other large economies. The last sectors that showed high growth potential are BPO, telecommunications, information technology, finance, biotechnology, nanotechnology, aviation, travel and tourism, media and entertainment, retail and more.

Today, large corporations and other government agencies have emerged with new financial plans and led to the growth of the Indian economy. Recently, in India, there has also been an increase in infrastructure. Various industrial giants in the world cooperate with Indian companies for business development. All of these economic activities claim that India can become the largest economy in the world.