HomeLifestyleThis will be the decade of India, will become the third largest...

This will be the decade of India, will become the third largest economy, there will be a sharp jump in per capita income

Highlights

Demographic, digitisation, decarbonisation and deglobalisation are in favor of India.
GDP will double from now to $7.5 trillion by 2031.
The amount coming through outsourcing in India will be $ 500 billion.

New Delhi. India will become the third largest economy in the world before 2030. India’s economy will grow rapidly through investment in the manufacturing sector, energy and modern infrastructure. This claim has been made in the report of Global Investment Bank Morgan Stanley. Morgan Stanley has published a report titled Why this is India’s decade.

It has been said in this report that India is gaining strength in the global economy. This is a good opportunity for investors and companies. According to the report, these situations are created once in generations. Demographic, digitalisation, decarbonisation and deglobalisation are currently in favor of India. India is currently the 5th largest economy in the world. The other four largest economies are the US, China, Japan and Germany.

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increase in income
The report says that in the next decade, the number of households in India will increase five-fold to 25 million with an annual income of $35,000 (over Rs 28 lakh at the current exchange rate). Consumption will also accelerate due to increase in income and GDP will double from now to $ 7.5 trillion by 2031. At the same time, in the next 10 years, it will cross 10 trillion dollars. India’s average per capita income will increase from $2278 (Rs 1.88 lakh) to $5242 (Rs 4.33 lakh) by 2031.

Also read- Break on recruitment in big tech companies like Google, FB, Amazon! Effect is visible in India

work from india
In the next decade, the number of workers engaged in outsourced work in India is expected to double to 110 million. The expenditure on outsourcing is expected to increase from US$ 180 billion to around US$ 500 billion by 2030. Its impact will be seen on commercial and residential properties.

Aadhar makes financial transactions easy
Aadhaar has been praised in this report. According to the report, the project, which started slowly, faced many challenges including legal. According to the report, it is the basic identity card for all Indians and has made financial transactions easier and cheaper. The report also talks about direct benefit transfer. It said that Aadhaar has eliminated the scope of any irregularities in the direct payments made to the beneficiaries for welfare schemes.

Tags: business news in hindi, Economy, India GDP, Indian economy

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