Ancient India had a significant and prosperous economy before the Industrial Revolution. India was famous for its contributions to mathematics, science, philosophy, and art. However, colonisation and the Industrial Revolution changed the global order, and India lost its preeminent position to the West.
Since the start of the new millennium, India has been slowly but steadily rediscovering its old mojo. A resurgent India is making headlines around the world, shedding its ‘developing country’ tag and morphing into a global power. From its consistent average pace of economic growth to now becoming a global force in manufacturing and advancing in science and technology.
We are today the world’s fifth-largest economy, having surpassed former colonial power Great Britain and also France, and we are on course to overtake Germany and Japan by 2030. Only China and the US will be ahead of us.
In this backdrop, India’s steady rise in the global order gains significance. Our leadership displayed on the global stage in recent months also reflects this.
In recent times, India has had a stable political situation at the centre. We have a robust workingclass population and a large consumer base. The manufacturing sector has been further bolstered by the rise of the services sector. Over the past two decades, a large number of reforms have paved the way for India’s rise. The future looks very bright.
For example, our manufacturing sector is only just hitting its stride, establishing us as a hub for everything from phones and pharmaceuticals to automotive and aerospace components. Our spirit of entrepreneurship has been vibrant, with access to technology spawning a thriving start-up ecosystem spanning the remotest corners of the country.
Denne historien er fra February 18, 2024-utgaven av Business Today India.
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Denne historien er fra February 18, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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"OFFER MORE SOPS FOR THE NEW TAX REGIME”
Dinesh Kanabar, CEO of Dhruva Advisors, on the tax-related measures expected in the Budget, reforms, and more
IN SEARCH OF A BOOSTER SHOT
TO BOOST GROWTH, THE GOVERNMENT MAY FOCUS ON INCREASING CAPEX AND BOOSTING DOMESTIC CONSUMPTION, PARTICULARLY TARGETING THE MIDDLE CLASS. THIS COULD PROVIDE A FILLIP TO STOCKS IN THOSE SECTORS
HEALTH BOOST
THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN
"Indian aviation to see double-digit growth for the next 30 years"
Vinay Dube, Founder & CEO of Akasa Air, on the country's aviation sector, why the airline was set up, and more
TIME TO BE SMART
This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments
CLOTHES MAKETH A MAN
THE MEN’S LUXURY MARKET IN INDIA, ONCE A NICHE SEGMENT, IS WITNESSING AN EXTRAORDINARY RISE AND IS THRIVING, THANKS TO SOCIAL MEDIA AND RISING DISPOSABLE INCOMES
Front-running Redux
Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets
Triumph of Engineering
The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism
MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?
