Salute to India's economic system on 26th India's global outlook is changing in the business sector

- In 2030 India's stock market will become the largest stock market in the world, India's economy is marching ahead amid many uncertainties and challenges.

- India has started dreaming of 20 trillion US dollars by 2047. If this dream is to be achieved, India will have to grow at the rate of 7 to 7.5 percent.

- The progress of India's economy includes India's startup sector, India's corporate sector, India's leadership of G-20, implementation of 5G in India, PLI scheme proving important in manufacturing sector, free trade with Australia and growing nationalism among people etc.

When we are passing through the Republic Day celebrations in 1974, a situation has arisen where we can celebrate the economic condition of the country as well. While the whole world is stuck under the clouds of recession, India is still far away from the effects of recession. The country's industries and corporate sector are eyeing the budget to be released next week. This is the last budget of the second term of the Modi government. The policy of going along with the corporate sector is bringing color. China, which is weakening in the manufacturing sector, has brought good signs for India.

Almost all the economic experts of the world have been saying that a crushing recession is coming in the world and India will also come under its grip. We have been hearing this since the middle of 2022, but the words of experts are proving to be rumours. Rating agencies that have been projecting a negative picture of India are frequently changing their numbers as India is not in the throes of a recession.

Although India is not directly or indirectly involved in the war between Russia and Ukraine, it is seen that India is benefiting. By keeping relations with Russia intact, India has signaled that America will not be arbitrary. Global investors are also welcomed in India and provided with necessary assistance. India has also taught the world's top companies operating in India a lesson to stay within the law. As the Competition Commission imposed a fine of 300 million dollars on Google in which the Supreme Court also did not give relief.

Investors who want to come to India believe that India has a stable government so it can be said to be a positive environment for industries. People have been assured that the government can remain stable till the Lok Sabha elections in 2024. It is seen that the government has given more emphasis on providing necessary facilities to industries which are economic backbone of the country.

By saying that it is not in favor of war, the Indian government has attracted many people of the world towards it. India is focusing more on deterring infiltrators instead of war and developing modern weapons to be powerful on the border.

Even during the Kovid period, the economic system of India did not suffer any major shock. One of the reasons why global investors are flocking to India is that India has become the fifth largest economy in the world.

India's stock market is expanding under various strict laws. In 2030, India's stock market will become the largest stock market in the world. India's economy is marching forward amidst many uncertainties and challenges. Supporters of India's economic march include India's startup sector, India's corporate sector, India's G20 leadership, implementation of 5G in India, PLI scheme proving important in the manufacturing sector, free trade with Australia and growing nationalism among people.

Problems like unemployment and inflation are holding back India's progress, but jobs are being created due to massive infrastructure projects and the activation of small units. The World Bank has also revised India's growth figures. From the figure of 6.5 percent announced by the World Bank, it has revised that figure to 6.9 percent. While most economic agencies have underestimated India's score, the World Bank has changed it.

India's global outlook in the business sector is changing. Big companies move forward according to the opinion of rating agencies but in case of India, every rating agency has gone wrong. Looking at the way the business sector of India is moving forward, it can be said that the investors of the world are ready to invest in India. The Goods and Services Tax has instilled new confidence in India's economic system.

Foreign exchange reserves have strengthened the economic backbone of India. American multinational investment management and financial company Morgan Stanley has recently said that looking at the way India's economy is progressing, it can be said that India will overtake Germany and Japan to become the world's third largest economy by 2027. Soon India is going to start dealing in Indian currency with Russia.

The State Bank of India has said that looking at India's rate of progress, it can be said that India can overtake Japan to become the fourth largest economy in the world by 2029. India has started dreaming of 20 trillion US dollars by 2047. If this dream is to be achieved, then India has to move forward at the rate of 7 to 7.5 percent.

It is also not necessary to believe that waves of depression will not hit India but it is also a fact that if the economic conditions are as hard as stone then the waves cannot move forward. It is a welcome report that the rate of inflation has come down in the new year 2023.