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The Indian economy is growing at a rapid pace. This is officially the world’s second fastest growing economy. The Indian economy is likely to change much in the developing countries.
since
beginning of economic reforms in India in the 1990s, the country went through a lot of drastic changes. There were a lot of jobs in the country after the economic reforms. Young people are more job opportunities like never before. New industries such as information technology (IT) and business process outsourcing (BPO) also offer more jobs educated youth. In fact, now a days anyone working in computer skills and English language to find a job in India. Every industry is growing at a rapid pace. The automotive industry has seen record growth in recent times. Even the manufacturing industry has posted a high rate of growth.
In the coming years, India is expected to go through some drastic economic wise. The double-digit growth rate of the economy to the country in the developed nations couple of decades.
However, the road to economic development is not easy. There are some problems in the country as possible, so that the whole process goes vein. Population explosion is one such problem. The rapidly growing population of the country will ensure that most of the work done to improve the standard of living of the common people are going to come to nothing. The country’s limited resources and can sustain only a limited number of people living in the country. more public support of the urgent need for fundamental, which is bound to have more resources. The Indian government has yet to come up with some policy to curb the growing population.
Another danger is that the Indian economic growth story terrorism. The threat of terrorism can hurt the whole positive emotions generated by economic growth. Since most economic activities take place in an environment of security, all acts of terrorism in any significant economic center can be a big blue foreign investment in the country, affecting the overall economic growth of the country. For example, bomb blasts in Mumbai had a negative impact on the economic scenario of the city.
The growing religious intolerance in India. As some politicians can always play politics to obtain votes in elections, they divided the people that the communal riots. As in the case of Gujarat, some politicians may exploit religious feelings when pushed to the edge. Every major event in a religious rebellion could hurt economic activity in a region. For example, after the communal violence in Gujarat, the state in many industries, especially in Ahmadabad, were affected.
Every other internal threats also put a spanner in the growth story at any time. Since the existing social unrest in the country, it could be a bad omen for the economy as a whole. The rich-poor divide is bad for the economic growth of the country. Keeping up with business news is good, monitor the happenings in the economy.
However, the bad news does not affect us much, and we should not forget that fun lives.