In a major achievement, Uttar Pradesh’s economy has more than doubled, rising from Rs 12.88 lakh crore in 2017 to Rs 27.51 lakh crore today, all without raising taxes.
“Car purchases in India are largely limited to the top 12% of households with an annual income exceeding Rs12 lakh, while even small cars have become unaffordable for the remaining 88%."
India’s services sector, long the linchpin of its economic dynamism, is showing signs of moderation.
India will remain the fastest growing economy among the advanced and emerging G-20 countries and the large size of its domestic market makes the country less vulnerable to potential shocks from US tariff policy.
In its Economic Outlook for Asia-Pacific (APAC), S&P said that despite these external strains, it expects domestic demand momentum to remain solid in most emerging-market economies.
India’s services sector, which has assumed a key role in its economy, continues to demonstrate remarkable resilience, with growth accelerating to a five-month high in August.
Dr SP Sharma, Chief Economist and Deputy Secretary General of PHDCCI, said that India is a very resilient economy that will continue to grow rapidly in the future.
India's economic growth has been remarkable in recent years, earning it the title of the world's fastest-growing major economy. Yet, beneath this headline success lies a significant challenge: job creation.
India’s manufacturing sector, a key pillar of the nation’s economic growth, is showing signs of a slowdown, raising concerns about the trajectory of the broader economy.
The South China Sea has emerged as a flashpoint as several countries have claims to certain portions of this maritime space. While some Southeast Asian countries make claims to the oceanic space in the South China Sea that falls within their respective Exclusive Economic Zones, China makes a claim on almost its entirety.
