India’s Favorable Economy
When the year 2015 opened, economists around the globe predicted a lower growth in world economy. This is evident with the poor performance of emerging markets around the world. China’s economy is seen to be steadily slowing down for the past months. The Latin America’s emerging market Brazil is faced with issues of high unemployment rate and a stagnant demand in their economy. South Africa on the other hand is continuously embattled by corruption and a corporate inefficiency. The great nation of Russia is deeply hurt by the spiraling down of oil prices and the economic sanctions of the Western market imposed on them. Despite the negative news on emerging markets, India’s economy continues to thrive, drawing the attention of several investors and thereby growing the economy of the Asian silent powerhouse.
Preparing to soar
The Indian are often see as entrepreneurial people. There is much promise in the population that it has in that mostly are less than 25 years old. The inventive, imaginative and intuitive young minds play a major role in advancing the economy of India. Having said this, there is also much to do with the state of living in India since most of the population belongs to the poor class. The GDP per person in India is only $5,500 last 2013 while China has $11,900 GDP per person and Brazil reports at $15,000.
At the last quarter of 2014, the economy of India rose by 7.5%. This growth pace went past China. The inflation of the country has also significantly fallen by half. It can be recalled that the country suffered inflation rate at above 10 percent for the last several years. The gap has closed in and the rupee has continued to strengthen.
India’s stock market has also soared high. When the World Bank and the International Monetary Fund announced that it lowered its growth prospect for most countries, India was not on this blacklist.
There is brighter hope for India’s economy because of the promising government reforms. If these reforms are carried out well by the government leaders, then India will beat other markets. This would ultimately mean that people’s job would improve from the impoverished jobs in farm to better pay jobs in the corporate world.