Paper Title
India@75- Marching towards 5 trillion Economy: Challenges and Opportunities
Article Identifiers
: Authors
Keywords
Trillion, Gross Domestic Product (GDP), Purchasing Power Parity, Dedollarization, Balance of Payment (BOP), Foreign direct Investment (FDI). Current Account Deficits (CAD).
Abstract
Once called as ‘Golden Bird’, India is again rising to the Pinnacle of Economic Development year after year. India continues to be one of the fastest growing economies in the world since last decade. It Spots at 5th place in largest economy with GDP of 3.47 trillion USD in September 2022, and 3rd in terms of purchasing power parity (PPP) with approx. 11 trillion USD. Its macro fundamentals have improved dramatically in the recent years. 84 billon dollars has pumped by the foreign investors through FDIs in FY 2021-22. India rapidly emerges as a preferred investment destination: FDI inflows have increased 20-fold in last 20 years. It shows the immense trust of foreign investor in India. But some recent geopolitical event i.e., COVID pandemic, Russia-Ukraine conflict, and some internal issues have posed the challenges towards its target to become 5 trillion economies by the end of 2025 but these challenges have also given rise to some opportunities for India like covid vaccine and medicine supplies in the world, supplies of food grains, shifting of many manufacturing giants from China, Russia to India, improving diplomatic relations, dedollarization. These all together leading India toward super economy. Despites all the disruption India’s balance of payment remained surplus throughout the last two years of COVID pandemic, even Current Account Deficit widened. The Combination of high foreign reserve, sustained foreign direct investment and rising export earnings will provide an adequate buffer against possible global liquidity tapering in the upcoming year.
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How To Cite (APA)
Vivek Chandra Pandey & Dr.Sunil Kant Mishra (January-2023). India@75- Marching towards 5 trillion Economy: Challenges and Opportunities. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(1), b64-b71. https://ijnrd.org/papers/IJNRD2301109.pdf
Issue
Volume 8 Issue 1, January-2023
Pages : b64-b71
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Paper Reg. ID: IJNRD_185914
Published Paper Id: IJNRD2301109
Downloads: 000122253
Research Area: Commerce
Author Type: Indian Author
Country: GORAKHPUR, U.P., India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2301109.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2301109
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