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The rising economy & globalisation in India

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Priyanka Chakraborty
Priyanka Chakraborty
Hey Everyone, my name is Priyanka and I am from India. Well, I am a Student, Author, Writer, Poet, Blogger, Podcast host, Youtuber, Columnist, Activist for Climate & Education and wanted to do more in future. I love writing and reading. I hope you like my Articles. Thank you!

INTRODUCTION:

India is no longer lagging behind. With each day, India is becoming more successful in almost all terms, be it in economy, trading, globalization, or technology. India is going ahead with all of it.

From the last few years, India has been growing with its utmost potential.

From a British colony to an independent India, this journey was not easy, yet not the most difficult for India.

Today’s India is way stronger and more powerful diplomatically than before. India has good relations with almost all corners of the globe. 

ECONOMY:

India is ranked as the fifth largest economy in the world. Also, recently India has overtaken UK in the list of economy rankings of the world. This is a proof, that India’s Economy is rapidly rising and there is a very high chance that soon, our country India will be a Superpower country in the world. There is also a probability that India may cover 3rd economy rank by 2029. As per RBI (Reserve Bank of India), stated that “India is set to be USD 3.7 trillion economy in the year 2023.”

With the advanced use of technology, our country Trade & Commerce is also very rapidly rising. There are many start-ups starting. Many foreign-based companies are willing to come to India, because they know that India is soon going to achieve a great success in the terms of Trade & Commerce.

GLOBALISATION:

In the terms of Globalisation, India has started it’s Globalisation in the year 1991, with the suggestion of IMF (International Monetary Fund).

The Globalisation in India has a drastic impact on India’s economic condition. Due to which the average annual rate has grown from 3.5% (1980 –1990) to 7.7% (2002–2012). That rate was on it’s peak at 9.5% from 2005 to 2008. The Globalisation has also helped India in the terms of economy.

Indian businesses are also going Global nowadays. Many Indian companies has successfully taken over as a well-known companies in the world, like for example: Infosys, Tata Group etc. are some of the well known Multinational companies.

CONCLUSION:

A country’s or a nation’s economy can be improved if proper decision-making is supported by a good governing body. This is also followed by a good literacy rate among the citizenry. A better use of a country’s budget is also a very crucial purpose. If a country is at peace with almost no conflicts or violence, it can be the best place ever. These were some facts with which a country or a nation can become even more successful.

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Priyanka Chakraborty
Priyanka Chakraborty
Hey Everyone, my name is Priyanka and I am from India. Well, I am a Student, Author, Writer, Poet, Blogger, Podcast host, Youtuber, Columnist, Activist for Climate & Education and wanted to do more in future. I love writing and reading. I hope you like my Articles. Thank you!
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