- India’s GDP experienced significant growth in the fiscal year 2022-23, with a 6.1% expansion in Q4, leading to an annual growth rate of 7.2%. The GDP reached the $3.75 trillion mark, making India the fifth-largest economy in the world.
- India’s economic growth entered the “Goldilocks” Economic Period, symbolizing stability, with growth in manufacturing, construction, and agriculture sectors.
- India’s Reserve Bank implemented a strategic approach to inflation, raising the repo rate by 250 basis points over 11 months, resulting in an inflation rate of 4.8% in June 2023.
- With a median age of around 28 years and two-thirds of the population in the working-age category, India’s young population serves as a catalyst for potential growth, especially in manufacturing.
- Infrastructure Investment: An ambitious allocation of 1.7% of GDP on transport infrastructure shows India’s focus on overcoming historical inadequacies in transportation, water, and power, aiming to achieve a $5 trillion economy.
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