The Eastern path~I
India's Act East policy was launched in 2014. As pointed out by Prime Minister Modi, it rests on four pillars: Culture, Commerce, Connectivity and Capacity.
India's Act East policy was launched in 2014. As pointed out by Prime Minister Modi, it rests on four pillars: Culture, Commerce, Connectivity and Capacity.
India’s economic outlook remains resilient, but it’s clear that a complex interplay of global and domestic pressures demands careful navigation.
Reserve Bank of India Governor Shaktikanta Das has signalled a cautiously optimistic stance on inflation management, underscoring the dual focus on growth and price stability.
The Indian economy could grow between 7-7.2 per cent in the current fiscal on strong government spending, and higher manufacturing investments, Deloitte India said on Tuesday.
The country is expected to become a $4 trillion economy in 2024–2025, which would make it the world's fourth-largest economy.
Agriculture was the only sector of the economy that withstood the vagaries of the Coronavirus scourge, growing by 3.4 per cent in FY 2020-21, when other sectors floundered, and the economy shrank by 7.2 per cent. Demand for tractors, agricultural implements, fertilisers etc kept the cash registers of many manufacturing concerns ringing
The agriculture sector has been pandemic resilient. Its output is 8 percent above the pre-pandemic level. A below-normal monsoon poses a risk to its growth in FY22.
IT services and technology sectors contribute to more than 60 per cent of the AI market, followed by BFSI, engineering and retail.
"Even with a 9.5 per cent GDP growth in 2021-22, there will be substantial slack in the economy and demand pressures may take some more time to become evident," it said.
In 2020-21, the Indian economy contracted by 7.3 per cent against 4 per cent expansion in 2019-20, showing the economic impact of the COVID-19 pandemic.
