Turnaround in global economy good news for the country
The New Year brings glad tidings for India. A research agency, Centre for Economic and Business Research (CEBR) has said that India will become the fifth largest economy in the world in dollar terms, overtaking France and Britain, in 2018. CEBR also says that in 2032, China will take the first place in world economies, with the United States in the second and India in the third places. It will apparent as to why this is a natural outcome as you look at the 18 reasons that our team has singled out, which signal the tremendous transformation that is taking place in the country through the policy measures initiated by Prime Minister Narendra Modi’s government in the fields of social and physical infrastructure.
The country will have not only a more efficient railway and roadways systems, but it will also have the Indian Space Research Organisation(ISRO) reaching out to the moon, and the education – school and college – system getting a strong online push. With focus on skill development, greater number of Indians will have the right work skills and they will find work not only in India but in the world markets as well. More people will be living in urban areas, and smart cities will become home to millions of the urbanites and they will be digitally connected. In many ways, the country is ready to take its place at the high table of the comity of nations because it is preparing itself for the big role.
All assessments of economic experts shows that the world is at last coming out the 2008 global financial meltdown, and after a decade there is the prospect of worldwide economic growth. The revival in the global economy brings cheers
to Indian exporters and it would also mean that the country’s Information Technology (IT) work force will be in greater demand.
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