India is Future Global Economic Giant
Last year, for the first time in 150 years, India surpassed UK in terms of GDP and became the world’s sixth largest economy. Recently, Niti Aayog confirmed that the GDP of India while growing at the pace of 8% annually, will rise by 332 Lakh Crore in the next 15 years. And it is indeed confirmed by the US Department of Agriculture (USDA) that India will surpass nations such as Germany, Japan and France and will become ‘global economic giant’ with $6.6 trillion economy.
Government has long-term vision for turning around the country’s economy for which it is consistently trying to formulate policies to help upsurge productivity and foster growth. It replaced the country’s 50-year old traditional approach of five-year plan by an advanced, three-year action plan along with 7-year strategy and 15-year vision document for the country.
In conjunction, Indian markets have outpaced almost all other markets in the world. Post-Demonetization the economic growth stumbled few points only, but improved as expected. Confidence among investors are visible and there is outright positivity in the reforms that are yet to come. In between RBI has been very cautious with the ongoing scenario and has helped stabilize the markets to a large extent. Interest rates were kept low to spur credit growth in the economy thereby reduce the debt burden of corporates.
India by far has become one of the most open economies of the world. Most of the sectors are open for international investment. FDI in India hit the record high of $46.4 billion in the year 2016. Owing to higher infrastructure spending, continued reforms in fiscal and monetary policy and GST about to be launched, all seems well right now. The growth trajectory of India is all set to transform the history of economic performance of the country.
Investors India’s May edition will open doors of surprises for our readers. Know tips to buy your own house by investing into mutual funds. Also, read our exclusive edition on fund rating and improve your fund portfolio. Good news is that we have added one new column “Enroute” for those who are frequent travelers, and enjoy knowing about different places to visit around the world. Celebrate Mother’s Day in a different way this year. Read our Lifestyle section and get aware with tips on how you can inculcate moral values in your child compassionately.
GST: Freedom from Archaic Laws
Recently, we accomplished the silver jubilee of our economic liberalization. Year 1991 was the year reforms, a year of inception, when we unbridled our economy of restraint.
With GST Bill we are on our way to re-write the fate of prevailing archaic laws. The GST will perhaps be the single most important reform stimulus since 1991-92. If the bill is passed, 2016 will witness transformation in the Indian Economy.
It will help create a unified market, which would enable seamless movement of goods across states and simultaneously boost production. And therefore, put India’s fiscal system on the cutting edge of the world market economies. 2016 will witness transformation in the Indian Economy.
The world is undergoing turbulences, one after another, but India, however, appears to be much better placed. The dependence on domestic markets is the core reason of being safer but reforms in financial sector by the government and large forex reserves provides additional cushion against any internal and external market volatility.
This month, Investors India presents our readers with International Mutual Funds, a way to diversify a part of your portfolio, globally. The Cover Story of the month will reveal the methods you should follow to achieve complete financial freedom by effortlessly meeting your financial goals. Furthermore, you can also make your health better with tips on healthy liver in our section: Lifestyle Planning.
Wishing You Prosperity!
