Ten years of the NDA government from 2014 to 2024 will see India grow from a nearly $2-trillion economy to $3.7 trillion—an absolute growth of 95% at 7% CAGR in dollar terms despite Covid-19. Per capita income is $2,600. In rupee terms, nominal GDP has grown from ₹113 lakh crore in FY14 to an estimated ₹302 lakh crore in FY24—an absolute growth of 167% at 10.3% CAGR, again despite the global recessionary effects of the pandemic. This is an outstanding achievement; this period has recorded the best growth in India’s economic history. The nation is now officially a Top 5 economy on track to become a Top 3 economy by the end of 2026.
Highlights of the decade include transformative banking sector reforms, leading to low NPAs and clean balance sheets, far-reaching reforms in taxation, especially GST and I-T; the development of infrastructure on a scale never seen before in the country with significant investments in railways, airports, ports, and roads; an increased investment of $1 trillion in gross capital formation annually which amounts to over 31% of GDP, a step function elevation in India’s global standing; services sector exports reaching $400 billion by 2024 with surpluses of $220 billion; foreign exchange reserves of $600 billion; the start-up sector growing to $550 billion of value with 109 unicorns; and universal digital and financial inclusion with the development of the IndiaStack.
THE STAGE IS SET FOR INDIA TO ACCELERATE ITS GROWTH. OVER THE NEXT FIVE YEARS (FROM 2024 TO 2029), INDIA'S GDP IS ESTIMATED TO REACH $5.6 TRILLION
Diese Geschichte stammt aus der February 18, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der February 18, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
