INDIA HAS BEEN the world's fastest-growing major economy in the last two years, and the revolutionary growth is continuing. This is the best time for entrepreneurs to work on their dreams of building a brand and playing a part in the country's growth story. There is every reason to strongly believe that the coming years will be the best ones. The economic research department of the State Bank of India has stated that India would become the third-largest economy in 2029.
Brokerage Morgan Stanley expects robust domestic demand to keep the growth rate resilient, of course with the support of strong domestic fundamentals that reduce the economy's vulnerability to external headwinds. Their 2024 India Economic Outlook further states that macro stability is likely to remain within the comfort range.
The International Monetary Fund has forecast that India's real Gross Domestic Product will increase more than 6% in both the years 2023 and 2024. Keeping the projections and data aside, I feel it is an exciting time for India and for brands, in particular.
Increasingly companies are giving wings to their global aspirations and are going all out to achieve it. Indian companies are now more of global brands and that is great news for stakeholders.
'Make in India for India' is now becoming 'Make in India for the world'.
This will not only propel our country's growth but will also position us better on global platforms. Companies are also focussing on offering niche services to the global audience. This is one of the reasons for our increasing export market.
Growth potential in India’s dairy sector
This story is from the February 18, 2024 edition of Business Today India.
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This story is from the February 18, 2024 edition of Business Today India.
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