Health Magazine

Guest Post #1: India – One of the Fastest Growing Economies

Posted on the 19 April 2013 by Pranab @Scepticemia

This is a guest post written by Ms. Deepali Kaul. I have made slight grammatical and syntactical edits and otherwise, left it untouched. This article and its opinions and contents are not due to me, but to Ms. Kaul. Any links are not endorsements and are meant for informational purposes only. If you want to submit a guest post for consideration (though I wonder why!), please contact me!

Independent of its growing population, the Indian economy has been seen to touch new heights of success. Despite the limiting factors like poverty and disparity in income, Indian economy is considered as one of the fastest growing economies in the world. Liberalization policies have its unique contribution in growth, in market exchanges rates, trade volume and to boost demand. Indian economy with its diverse features has allowed opportunities to work in India to grow in several sectors like agriculture, handicrafts, textiles and other fields.

Agriculture has given 66% of its shares in growth of Indian economy and along with it the service sector is also taking speed to hold an important position in growth, in Indian economy. The Indian economy holds 12th position in market exchange rate, it is the fourth largest in purchasing power. Even following the recession of 2007 – 2009, India managed to keep its growth rate up to 9.668% in 2010. One of the strengths of India is its English speaking economy that has given new horizons to grow. Technical support and customer care support have given employment to a large number of youth giving wide employment to millions of people.

India is also expanding in manufacturing, aviation, tourism, retailing, and pharmaceuticals. It is expected that there would be appreciable growth in these sectors. India has a strong IT workforce which is next to agriculture in providing huge work opportunities to educated Indians. The IT hub has reason to smile for Indians as it is increasing each day. Future forecasts tell IT would be one of the principal industries of the country in coming years. The IT sector contributes 58.4% to national GDP.

India has seen strong growth its economy thanks to the Government’s efforts in recent years. But still it has to go a long way as the population is one of the major issues that has to be dealt with. Though India is ranked as 12th in the world in its market exchange rate, its unending population, poverty and illiteracy is neutralizing its power. Apart from this, India’s export capability has seen stiff competition from China’s remarkable export potential of manufactured goods.

Recently India’s emerging economic growth has slowed down to 4.50 percent, whereas China has been in first position in increasing economy with 7.80%. It is expected that ASEAN 5 (Vietnam, Malaysia, Indonesia, Thailand and Philippines) countries will soon hold a strong position in world economy, it was evident ASEAN 5 showed a growth rate of 5.7% in 2012 that clearly predicts their prosperous economies in the near future. Economists of the world predicted if the same situation exists, it would become hard for India to cope up with countries these countries growing economies.

India has struggled in last year because of its rigid and endless government policies imposing in restrictions on foreign investments. Too many regulations and red tape have avoided economic growth of the country.

But if the positive aspect is focused, India has great strength of education. Indian education system is in demand worldwide. It is one of the leading players in high-tech field contributed by highly qualified and educated workforce. But still, it is also limited as education expertise is not spread uniformly in the country; it remains restricted to some areas. Only a small number of people is able to get higher education, resulting in high rate of unemployment. Other bigger issues have also to be dealt by the country like electricity problem, water problem that dogs the energy sector. On the positive note controlling its population and speeding, economic growth will definitely make India one of the super powers of the world.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Maddison Krebs, Real Real Thing Interview & 5 Quick Questions

    Maddison Krebs, Real Thing Interview Quick Questions

    Maddison Krebs has been setting goals for herself since she was a little girl, and with a lot of hard work and perseverance, she's achieving them. The Okotoks,... Read more

    4 hours, 47 minutes ago by   Phjoshua
    LIFESTYLE, SELF EXPRESSION
  • Temco TT-1 Super Pinto

    Temco TT-1 Super Pinto

    @ Arlington Municipal Airport, Arlington, TX February 2008 Produced by Texas Engineering and Manufacturing Co. (Temco), the Pinto was originally proposed to... Read more

    5 hours, 33 minutes ago by   Htam
    PHOTOGRAPHY, SOCIETY
  • Equity Investment Platform Preparation Best Practices

    Equity Investment Platform Preparation Best Practices

    If you are one of the thousands of entrepreneurs who need equity funding to get your startup going (no loans to repay), you are probably overwhelmed at the... Read more

    6 hours, 4 minutes ago by   Martin Zwilling
    BUSINESS, CAREER
  • Keto Boom Means More Options and More Temptation

    Keto Boom Means More Options Temptation

    According to CNN Money, keto is booming. We see it with keto's popularity on social media. And with it's dominance with Google searches. This helps spread the... Read more

    6 hours, 27 minutes ago by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Songs of '78: "Le Freak"

    Songs '78: Freak"

    Considering how dominant disco was in 1978--as I noted way back in February, it was unavoidable that year--not a lot of disco stands out in my memories,... Read more

    6 hours, 34 minutes ago by   Russellarbenfox
    SOCIETY
  • Fairy Godmother – ‘Spit It Out’ EP

    Fairy Godmother ‘Spit Out’

    Following the ‘Attic Space’ EP (released by Fox Food Records earlier this year), Alyssa Thomas’ Fairy Godmother project makes a return with ‘Spit It Out’. Read more

    7 hours, 30 minutes ago by   Spectralnights
    ENTERTAINMENT, MUSIC
  • My Beauty Routine: Stella

    Beauty Routine: Stella

    While it's fun to read about the beauty habits of celebrities, I find it most helpful to learn about the beauty habits of women who have lifestyles, ages, or... Read more

    7 hours, 33 minutes ago by   Wardrobeoxygen
    FASHION, SELF EXPRESSION, SHOPPING

Magazines