India's economy is estimated to be $3.12 trillion in 2022 and is primarily driven by domestic demand. To maintain 8-8.5% GDP growth through 2030, India needs to create 90 million new non-farm jobs and increase its employment rate. Exports are expected to reach $1 trillion by 2030. Recent data shows India's economy recovering from the pandemic with rising private consumption and capital spending supporting GDP growth in the coming months.
India's economy is estimated to be $3.12 trillion in 2022 and is primarily driven by domestic demand. To maintain 8-8.5% GDP growth through 2030, India needs to create 90 million new non-farm jobs and increase its employment rate. Exports are expected to reach $1 trillion by 2030. Recent data shows India's economy recovering from the pandemic with rising private consumption and capital spending supporting GDP growth in the coming months.
India's economy is estimated to be $3.12 trillion in 2022 and is primarily driven by domestic demand. To maintain 8-8.5% GDP growth through 2030, India needs to create 90 million new non-farm jobs and increase its employment rate. Exports are expected to reach $1 trillion by 2030. Recent data shows India's economy recovering from the pandemic with rising private consumption and capital spending supporting GDP growth in the coming months.
India's economy is estimated to be $3.12 trillion in 2022 and is primarily driven by domestic demand. To maintain 8-8.5% GDP growth through 2030, India needs to create 90 million new non-farm jobs and increase its employment rate. Exports are expected to reach $1 trillion by 2030. Recent data shows India's economy recovering from the pandemic with rising private consumption and capital spending supporting GDP growth in the coming months.
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Market Size Current Status of Indian
Recent Developments Economy ● India's nominal GDP is estimated to be at ● India's economy is primarily driven by Rs. 232.15 trillion (US$ 3.12 trillion) in domestic demand, with consumption and FY22 Overview investments accounting for 70% of • Net employment rate needs to grow by economic activity 1.5% per annum from 2023 to 2030 to ● ➤ India became the fifth-largest economy after As of 2022, India's foreign exchange achieve 8-8.5% GDP growth between 2023 strong economic growth in Q1 of FY 2022-23 reserves stood at US$ 524,520 million and 2030 ● In 2022, gross Goods and Services Tax (GST) ➤ Real GDP in Q1 2022-23 is about 4% higher than ● McKinsey Global Institute estimates that revenue collection was at Rs. 147,686 crore its corresponding 2019-20, indicating a strong India needs to create 90 million non-farm (US$ 17.92 billion recovery from the pandemic jobs between 2023 and 2030 to increase ● In August 2022, overall IIP was 131.3; for productivity and economic growth ➤ Rising employment and private consumption, mining, manufacturing, and electricity were ● Minister of Commerce and Industry supported by consumer sentiment, will support 99.6, 131.0 and 191.3, respectively estimates Indian exports to reach US$ 1 GDP growth in coming months trillion by 2030 ➤ Increased capital spending on infrastructure and asset-building projects will increase growth multipliers Road Ahead ➤ Agriculture is picking up momentum with the ● With proactive administrative actions, revival of monsoon and Kharif sowing flexible monetary policy and softening of ➤ India is the fastest-growing major economy in the global commodity prices and supply-chain world and is expected to be one of the top three bottlenecks, inflationary pressures in India economic powers in the next 10-15 years, backed look to be on the decline overall. by its robust democracy and strong partnerships. ● CPI-C and WPI inflation reduction from April ➤ In FY 2022-23 (until October 28, 2022), Foreign 2022 already reflects the impact. In August 2022, CPI-C inflation was 7.0%, down from Portfolio Investment (FPI) outflows were at Rs. 7.8% in April 2022 and WPI inflation has 58,762 crore (US$ 7.13 billion) decreased from 15.4% to 12.4% ➤ In September 2022, India's Consumer Price Index ● Despite continued global slowdown, India's (CPI) based retail inflation reached 7.41% exports climbed at the second-highest rate this quarter. 3.5
