what do you think India needs in order to grow and develop name three things you can do to contribute to the Nation's growth.2nd question
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India’s economic success in recent years has helped to ensure that South Asia is the fastest-growing region in the world – but it faces significant challenges alongside its opportunities for further growth.
Ahead of the India Economic Summit 2017, taking place in New Delhi from 4-6 October, here are eight things you need to know to understand the current state of India’s economy.
Economic and population growth
India is the world’s seventh-largest economy, sitting between France and Italy. Its GDP growth recently dipped to 5.7%; still, India is growing faster than any other large economy except for China. By 2050, India’s economy is projected to be the world’s second-largest, behind only China.
India is home to 1.34 billion people – 18% of the world’s population. It will have overtaken China as the world’s most populous country by 2024. It has the world’s largest youth population, but isn’t yet fully capturing this potential demographic dividend – over 30% of India's youth are NEETs (not in employment, education or training), according to the OECD.
Where Does Growth Come From? Three factors can create economic growth: more capital, more labor, and better use of existing capital or labor. The growth that results from increases in capital and labor represents growth due to increases in inputs.
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