GDP Growth: ‘India’s growth rate rises by 100% shock world’- Amit Malviya
New Delhi| India has surprised the world by doubling its economy in the last decade. According to the latest IMF data, India’s GDP was $2.1 trillion in 2015, rising to $4.3 trillion by 2025. This represents a growth rate of 105%, faster than global giants such as the US (66%) and China (76%).
BJP’s IT cell chief Amit Malviya has reacted by sharing this figure on social media quoting IMF. He described this achievement as the result of the decisive leadership of Prime Minister Narendra Modi and the active economic policies of his government. “This achievement was not achieved by any previous government since independence”, he wrote on X (formerly Twitter). With the Modi government’s bold reforms and focus on ease of doing business, India is leaving global superpowers behind.
What are the reasons for the increase in India’s growth rate?
Experts believe that many factors are responsible for this spectacular growth. Make in India, Digital India and Production Linked Incentive (PLI) schemes have increased investor confidence. At the same time, the strong startup ecosystem and continued progress of the IT sector have accelerated economic growth. India’s rapidly growing economy is strengthening its position on the global stage. While US GDP is reaching $30.3 trillion and China’s $19.5 trillion, India’s growth rate looks stronger than other countries.
What is the way forward and the challenges?
However, despite this growth, India will have to face challenges like unemployment, inflation and income inequality. Experts believe that in the next decade, India will have to pay more attention to economic reforms so that this development reaches the general public and the dream of making the country a five trillion dollar economy can be realized.
