Good Bye 2023 | Sensex heading towards 70, silver 70, gold 70 with bullish tone, 70 hours work week...

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Good bye 2023 | Farewell to 2023 If we look back, the light of boom came to pierce the darkness of the beginning of 2023 and due to this the name of India has started to shine in the world of economic sector. Foreign investments have breathed new life into many sectors of India. Efforts in electronics, auto mobiles and semiconductor manufacturing have made India's boom on the global stage. The rich countries of the world believed that in 2023 India would be stuck in recession and the Russia-Ukraine war would cause oil prices to soar, economic experts said that India's economic system would collapse. The rating agencies of the world were also painting India's economic picture negatively but everyone was surprised by India's slow progress.

After seeing India's economic boom, the world's reputed rating agencies started showing India positively. Due to which the global economic upheaval had a positive impact on India. India was on the brink of slipping into recession due to global impacts but some measures taken at the local level yielded miraculous results. The new Production Linked Incentive (PIL), Vocal for Local and Indian Semiconductor Mission (ISCM) created new opportunities in the manufacturing sector.

China also had to retreat in 2023 trying to put a brake on India's economic strength. Investors withdrawing money from China directly benefited India. India laid a red carpet for the investors of the world. Because of this, foreign investment in India has crossed 60 billion dollars. In view of the 2024 Lok Sabha polls, the government's measures to increase employment and measures like Make in India attracted manufacturers. As relations between America and China worsened, renowned companies like Apple turned to India.

Due to the war between Russia and Ukraine, there was a shortage of important materials like semiconductors, India succeeded in creating an alternative system, but it made successful efforts to manufacture them in India. India is now emerging as a hub for semiconductor manufacturing. India strives to become self-sufficient and is also preparing schemes to encourage local production of important raw materials. In the generative artificial intelligence (AI) field, Open AI's chat to rival GPT and Google's Bard came in late 2023 and India's AI will be important in 2024. During 2023, there was a continuous surge in India's stock market, gold and silver prices etc.


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