Why India need to grow in faster rate in 2019

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As China’s economic growth slowed down so that companies are searching the next fastest economy so invest on and India looks fit for it.

IMF estimated that India will be the fastest growing economy this year where Flipcart, Walmart and different other companies like Netflix, Dunkin donuts were trying to invest in India. It is projected that India’s growth will surpass China with a growth of 7.5% this year. Let's discuss the factors affecting India’s growth.

India’s population is 1.3B and is projected to grow more and by 2024 it will surpass China’s population. The big population is also very young and it is on a track to reach a high demographic dividend.

This condition arises when a country working population is larger than the non-working population. By 2050 India’s working population will reach to more than 1B that in a way reason for India’s large growth where after PM Modi came into play in India it also increase successively.  

In India’s growth, Modi has a bigger role to play with less support from the world bank that increases India’s rank in ease of doing business from 130 to 100.

India grows faster than China in 2015 and 2016 but China took the fastest growing economy title in 2017 the country’s domestic market and the exports fall down and hit the consumption and investment hard because of the 2 big steps of demonetization and G.S.T. in India showing that India will have a larger growth in future.

India might be going to be the fastest growing economy but does the economy is fast enough to change the status of unemployment in India? IMF chief economist said that it should grow much faster than it is growing right now.

If we talk about the labor force in India is growing at a rate of 1 million every month. 25M people applied for India’s 90,000 state govt jobs. For most junior roles in police 2,00,000 people applied for 1,137 openings.

But India’s growth faces serious challenges this year. Top companies are stabilizing their growth rate as the oil prices are rising continuously.

India is world’s 3rd biggest oil consumption city and after Modi govt came into play its oil prices go from 60 till 90 in 2018 and it is also a strong fact that 17% of revenue India gets from oil.

After all these reasons we have seen that larger companies are coming to India in the food business, Automobiles and different other sectors that manages India’s growth.

Question is can India be able to stabilize its growth and take it to the other level to become the Developed country.




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