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India's government has proactively attuned policies to support growth in a very challenging economic environment globally. Economic policies in India have been geared to promote growth by encouraging investment, innovation, and entrepreneurship, writes Alexander Reisch, Managing Director, IPM India.
India has become a beacon of hope for the world economy with its sound macroeconomic fundamentals. According to data released by PHD Chamber of Commerce, India is the only economy among the top 10 leading economies which has shown consistent improvement in its macroeconomic performance during the last 4 years, owing to its effective dynamic policy environment.
The government has taken the country's demographic dividend and consistent growth and fused it with favourable policy support to script a future that makes India the world’s bright spot. There are three key factors that will enable this.
India's demographic dividend is a key factor in the country's economic growth. With a large and expanding working-age population, it is poised to witness a surge in productivity and output. This demographic advantage, combined with pent-up growth provides an opportunity for India to accelerate its economic growth in the coming years.