INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016
Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI)
Once called as ‘Golden Bird’, India is again rising to the Pinnacle of Economic Development year after year. India continues to be one of the fastest growing economies in the world since last decade. It Spots at 5th place in largest economy with GDP of 3.47 trillion USD in September 2022, and 3rd in terms of purchasing power parity (PPP) with approx. 11 trillion USD. Its macro fundamentals have improved dramatically in the recent years. 84 billon dollars has pumped by the foreign investors through FDIs in FY 2021-22. India rapidly emerges as a preferred investment destination: FDI inflows have increased 20-fold in last 20 years. It shows the immense trust of foreign investor in India. But some recent geopolitical event i.e., COVID pandemic, Russia-Ukraine conflict, and some internal issues have posed the challenges towards its target to become 5 trillion economies by the end of 2025 but these challenges have also given rise to some opportunities for India like covid vaccine and medicine supplies in the world, supplies of food grains, shifting of many manufacturing giants from China, Russia to India, improving diplomatic relations, dedollarization. These all together leading India toward super economy. Despites all the disruption India’s balance of payment remained surplus throughout the last two years of COVID pandemic, even Current Account Deficit widened. The Combination of high foreign reserve, sustained foreign direct investment and rising export earnings will provide an adequate buffer against possible global liquidity tapering in the upcoming year.
Keywords:
Trillion, Gross Domestic Product (GDP), Purchasing Power Parity, Dedollarization, Balance of Payment (BOP), Foreign direct Investment (FDI). Current Account Deficits (CAD).
Cite Article:
"India@75- Marching towards 5 trillion Economy: Challenges and Opportunities", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 1, page no.b64-b71, January-2023, Available :http://www.ijnrd.org/papers/IJNRD2301109.pdf
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ISSN:
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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