The rise of India's economy is a remarkable story that has gone through a series of ups and downs.
From 6. in the first quarter of 20231% growth to 78% and then 7With a surge of 6%, India's manufacturing sector has become a global leader, with a year-on-year increase of 139%。Behind all this is the promotion of India's huge infrastructure investment and investment promotion strategy.
The rise of manufacturing is not just a digital growth, but also a reflection of the resilience of India's economy. Against the backdrop of global volatility, the Indian economy has successfully resisted external shocks with a strong domestic demand market, which has eased the two-way pressure on exports and imports. This pattern of organic growth has led to a strong momentum in the Indian economy.
Behind this success, Modi has played a pivotal role. ** Huge sums of money have been invested in promoting infrastructure construction, which has boosted the development of the manufacturing industry. At the same time, by strengthening the investment promotion strategy, Modi** has successfully attracted a large number of global multinational companies to set up production bases in India.
Together, they form a solid foundation for India's economic rise. However, it may be easy for large multinationals to enter the Indian market, but it is not easy to gain a foothold in it.
It's a large and complex market that requires a deep understanding of local culture, market needs, and regulations. However, it is this challenging environment that also provides opportunities for those who are adventurous and adaptable.
With rapid economic growth, India is gradually consolidating its position in the world. According to preliminary statistics, in the first three quarters of 2023, India's total nominal GDP reached a staggering 718173Rs 800 million, up 6 percent year-on-year1%。This is not only a numerical victory, but also a strong demonstration of India's economic resilience.
According to the market** accounting, India's nominal GDP in the first three quarters was 7The 1% growth rate was 2141442The substantial growth of Rs 900 million has brought its economy to the point of almost breaking through 26 trillion US dollars, continuing to rank fifth in the world.
This astonishing growth momentum has also attracted widespread attention from the international community. Some international ** have said that India's economy is on track to overtake Japan and Germany in the next few years to become the world's third-largest economy after the United States and China.
The larger-than-expected development of this trend suggests that the growth momentum of the Indian economy is expected to be further strengthened. However, all this is not accidental. India** has provided strong support to the economy through massive infrastructure investment.
This kind of development model under the guidance of the first has successfully promoted the vigorous development of various industries. From the rise of manufacturing, the growth of the construction industry, to the upgrading of utilities such as electricity, gas, and water, each sector is contributing to India's economic prosperity.
India's position in the global economic landscape is also becoming more prominent. At the average exchange rate, India's economy reached $2,599.5 billion in the first three quarters, second only to the United States, China, Germany and Japan, ranking fifth largest in the world.
This achievement is undoubtedly a feat for a developing country. At the same time, we cannot ignore the economic performance of other countries. The size of the U.S. economy expanded to 203 trillion US dollars, continuing to lead the world.
China's economy grew by 5 in the first three quarters2%, although the economic aggregate is large, it also faces price deflation and exchange rate problems. Although Japan's economy is **1 year-on-year7%, but due to inflation and exchange rate drags, the economy was overtaken by Germany and fell to the fourth place in the world.
In today's increasingly fierce international economic competition, India's economic rise has provided a new focus for the world. India's policies have had initial successes, but the challenges cannot be ignored.
As the uncertainty of the global economy increases, India needs to remain sensitive to the internal and external environment, and constantly adjust and optimize policies to ensure sustainable economic growth.
Ultimately, the rise of India's economy is not just a digital growth, but a process of a country's emergence on the global economic stage.
In the next few years, if India can maintain its economic growth momentum of around %, it will no longer be a dream to surpass Japan and Germany to become the world's third-largest economy after the United States and China.
The success of all this is inseparable from the strong guidance of the first and the joint efforts of all the Indian people. With the passage of time, India's economy will continue to provide a new growth engine for the world and inject more vitality into the development of the world economy.