will India be the next superpower (Economy)?

India a sovereign, socialist, secular, democratic and republic nation. Which is counted in the list of developing countries. In this blog we will analyse that when will India become a next superpower. We will also analyse the major dimension and factors such as economy, military, diplomacy etc to know about the present postion of India in the world.

Let's begin.

1. Economy

The development of any country can be easily analysed by its economic power.

India is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).

From independence in 1947 until 1991, successive governments promoted protectionist economic policies with extensive state intervention and economic regulation, in the form of the License Raj.

But in 1991 under the leadership of PM P.V Narsimha Rao and finance minister Dr. Manmohan Singh, India entered in the world of globalisation and privatization.

Now in this economic recession time whole world's economy is adversely affected so as India's.

Source: wikipedia

Now India is recovering from this recession, energetically. But yet india's need to made more efforts.

Measures should be taken by govt to improve the situation.

1. Quick solutions of the farmers unrest.

2. The union budget has to lay out a framework to increase the economic activities.

3. More and more global trade agreements.

4. Institutional autonomy and processes.

These measures should be taken by govt to free the economy from the clutches of recession.

Dr. Manmohan Singh said " deep and prolonged economic slowdown was inevitable".

Reports

1. India will regain its position as the fifth-largest economy by 2025 and emerge as the third-largest by 2030 in dollar terms and remain in that position until 2035

Source: timesofindia

Expert views

India will overtake China in the next 25 years: Rakesh Jhunjhunwala

Source: economictimes

What's your views on India's economic development?

Comment below.

Comments

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