India's Golden Decade: The path to a $6 trillion economy
Investors India|May 2023
The Indian economy has been growing at an elevated level. The recovery post-COVID has been above most experts' expectations. The measures announced by the government and the central bank in the aftermath of the pandemic have yielded results.
Akhil Chaturvedi, Chief Business Officer, Motilal Oswal AMC
India's Golden Decade: The path to a $6 trillion economy

The economy has bounced back in the green to be among one of the fastest-growing major economies in the world. The steps announced were balanced and planned responsibly, even now when the central banks are unwinding their easy monetary policy it has had minimal impact on the economy and much of the measures were consumption focused. The $3.2 trillion economy is poised to grow strength to strength in FY23 as well as FY24.

As per the Reserve Bank of India's estimate, the real GDP growth is expected to grow at 7% for FY23 and 6.4% for FY24. The growth is expected to be evenly balanced and consistent as the estimate suggests growth for Q1 of FY24 at 7.8%, for Q2 at 6.2%, Q3 at 6%, and Q4 at 5.8%.

It was only recently that the country's GDP grew to become the fifth largest in the world, leaving behind its erstwhile colonizer UK. There are a host of factors that have helped India become the fifth-largest economy. Going forward India is poised to become a $6 trillion economy which will be the third largest behind only China and the US. Let's take a look at the journey till now, factors that will help drive the economy to that position in the next decade, and also the likely impact of that.

The Journey, and the march to $6 trillion

The journey has not been so easy. It has been a growth of epic proportion over the past 7 decades. And as we grew, the next phase of growth only became easier. As shown in the illustration below, the Indian economy took almost 58 years to reach the first trillion, from its independence in the 1950s to 2007. Whereas it took just 7 years to grow from the first to the second trillion. To be sure, India opened up its economy to foreign investment.

Bu hikaye Investors India dergisinin May 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Investors India dergisinin May 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

INVESTORS INDIA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
Investors India

Thematic Fund Or Sectoral Fund, Which Fund Suits You?

A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.

time-read
2 dak  |
October 2024
Be Kind To Your Kidneys
Investors India

Be Kind To Your Kidneys

The kidney is a vital organ in our body which is four inches long and two and a half inches in width.

time-read
5 dak  |
October 2024
Have You Included A Passive Fund In Your Portfolio Yet?
Investors India

Have You Included A Passive Fund In Your Portfolio Yet?

The assets under management (AUM) of passive funds recently crossed the Rs. 10 lakh mark. While a significant portion of this money comes from institutional investors, such as the Employees Provident Fund Organisation (EPFO), these funds are also gaining popularity among retail investors.

time-read
1 min  |
October 2024
Mutual Fund
Investors India

Mutual Fund

1. SEBI allows mutual funds to buy and sell credit default swaps (CDS)

time-read
4 dak  |
October 2024
Insurance News
Investors India

Insurance News

1. The finance minister has launched a new NPS scheme named NPS Vatsalya

time-read
1 min  |
October 2024
ASK THE EXPERT
Investors India

ASK THE EXPERT

Dear Sir, I attended your webinar on post-retirement financial planning. As advised by your good self, I invested in NPS after retirement.

time-read
3 dak  |
October 2024
Market Mystery: Some Important Investing Lessons from Fund Managers Themselves
Investors India

Market Mystery: Some Important Investing Lessons from Fund Managers Themselves

Mr. Mahesh Patil is the Chief Investment Officer (CIO) of Aditya Birla Sun Life AMC Limited. As the CIO Mahesh oversees INR 3 lakh crore of assets under management.

time-read
6 dak  |
October 2024
How to make a cautious entry into equity funds during a bull market
Investors India

How to make a cautious entry into equity funds during a bull market

The number of mutual fund folios has been rising, with flows via the systematic investment plan (SIP) route reaching new highs.

time-read
4 dak  |
October 2024
All that you need to know to kickstart your retirement planning process
Investors India

All that you need to know to kickstart your retirement planning process

We all enjoy planning for the future. It’s a good idea to plan ahead of time for anything, from the day’s activities to a vacation.

time-read
5 dak  |
October 2024
5 Steps To Achieve Your Financial Goals
Investors India

5 Steps To Achieve Your Financial Goals

From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.

time-read
3 dak  |
September 2024