Strengths Of Indian Economy

J

Junoon

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A great change has taken place in last two decades, in the context of Indian economy, and presently India has attained the rank of 3rd position among the global countries in terms of purchasing power and is poised to take the position of top growing economy of the earth.

According to some renowned economists and the Global Investment Bank, Goldman Sachs – by the year 2035, India would be reckoned with third largest Economic power of the Globe and size of its economy would grow to 60% of the US economy. It will touch the target of 9% GDP growth by that time and thereby acclaim the praise of other nations living on this soil of earth.

Though India has various forms of problems and inhibitions, experts in the field of economy are of the view that strengths of Indian economy would definitely bring noteworthy results in respect of its growth and prosperity in the time ahead. India has vast resource of working population which would be deployed for betterment of its industrial production, agricultural progress in India and securing more outsourcing jobs from developed countries thereby raising its economy to a great heights. Other mentionable asset of Indian economy is its huge section of middle class people which helps it to consume its produced goods in a big way and thus keeping the economy in a state of vibrant position.

Natural resources of mines for different minerals and water resources are the other strength of India which contributes greatly for developing its economy. Coal, iron-ore, limestone, Bauxite, Manganese, Petroleum, Natural Gas, Diamonds and many other minerals are abundantly available in various parts of India to boost the Indian economy and to remove the hurdles before the growth of indian Economy in a great way. Percentage of English speaking people in India are greater than any other countries of Asia which is another form of assets for the Economy of India. All the above things combined would make India a force to reckon with in the field of economic power in the coming decades.
 
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The Indian economy is growing steadily with a nimble pace. The agricultural sector is major contributor to the Indian economy as most of rural people in India are employed in the agriculture. But these days even IT sector, health sector and mining sector is seeing boom which is helping Indian economy to grow.
 
Though India is facing some problems towards it's growth but there is no doubt that India has many biggest strengths as well that are contributing great towards success.

Agriculture sector is obviously the stronger one but also due to introduction of many new technologies various other sectors like power, IT, health, technology, arms and ammunition etc are becoming some excellent strengths of our nation today that will definitely take us to a great extent very soon.

So, I personally salute to my nation and all those who are contributing hard towards it's success.

Are you with me?
 
indian economy is supported by many of the sectors such as agriculture which is the major contributor, IT which is also becoming rampant these days and contributing lot to the indian economy. most of the engineering students make their living out of IT industries. we can strengthen our economy by improvising techniques in agriculture and increasing productivity
 
Its clear that world has fixed its eyes on Natural resources and Middle class consumption. They want us to remain an agriculture economy, dependent on them for all their consumption needs including food products. We should produce what we are more capable of. The quality of our human resources needs to be improved through specialised training so that large piles of foreign exchange can be earned. Food can be purchased from outside or can be produced through efficient techniquies by a limited number of people. Other human resources should be utilised to earn maximum per capita income. Beware of praisers who are not truely concerned with our growth.
 
Agriculture is the biggest strength of indian economy. around 80% of the indians are involved in agriculture and farming. this gives the good turnout to the indian government and make higher revenues. apart from this the latest technology used in day to day life also contribute a lot in Indian economy.
 
People say that agriculture is the back-bone of Indian Economy. But a lot needs to be done to safeguard its interests from APMCs' cartel. We will have to ensure 1. free and easy market access to the farmers 2. promotion of cooperative farming 3. technological and warehousing access and awareness among farmers etc. to ensure better prices to farmers and control on rising commodity retail prices.
 
If we talk about the strengths of Indian economy, India's major strength is the demographics that it has. About 70% of Indian population is in the age group below 35 who are one who participate in consumption
 
indian economy is well supported by the industrial sector comprising of IT which is witnessing a boom these days. apart from this the pharmaceutical sector is also growing slowly and is estimated to have a growth of over 25% in the next 3 years. even automotive sector is improving day by day with people longing for more and more vehicles.
 
Prior the world meltdown, India's development has been broad based, just like the cyclical one if look back in history. The silver-lining has been the structural transformation in policies making which has given wings to the corporate india. One of the largest working population which drives a vigorous consumption given the transformation demographics as well as enhances the expenditure on the infrastructure are indeed the main factors of the indian economic growth. Textile industries also plays an important role in enhancing the economic power of teh country.

India's structural development impulses stays and remains the same, given the huge domestic rate of savings, sound economical system as well as growth supportive macro-economic policy environment.
 
Textile industry as rekha said is an up-growing industry and its been in the light since ages. This is the industry that gives a lot of revenue to the indian government. It is the main strength of the indian economy and its importance cannot be ignored.
 
the strengths of indian economy are changing... in my view it was once agriculture which used to be the largest contributor to the indian economy reaching about 60% but then recent trends have changed a lot. the IT sector has come in, moreover there are other industries like steel, iron ore which also contribute substantially to the indian economy.
 
R2India said:
indian economy is well supported by the industrial sector comprising of IT which is witnessing a boom these days. apart from this the pharmaceutical sector is also growing slowly and is estimated to have a growth of over 25% in the next 3 years. even automotive sector is improving day by day with people longing for more and more vehicles.
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Not only IT sector but the private and domestic sector that are indulged in textile and other domestic manufacturing are also the strengths of indian economy.
 
Of course, the agriculture sector is the main strength of indian economy. People more than 60 percent are engaged in agriculture sector. If government give boost to the technology and introduced it to the farmers then the remuneration will just go double in the agricultural field as this is the main occupation of people in india apart from textile industry. but due to the lack of modern agricultural technology india is still facing the problem of low boost in agriculture. This is indeed the main strength of indian economy.
 
I think IT is slowly growing and giving good boost to the Indian Economy. Indian Agriculture on the other hand is not doing as good as it can. Government is not helping farmers to help deploy latest techniques in agriculture to boost the production. Agriculture can do great if land meant for growing crops is utilized optimally by the farmers. So basically in my view, the Information Technology and Agriculture in India are the two strengths of Indian Economy.
 
I agree with you that IT sector is becoming and contributing a lot in the economy of india but till when? Only till the MNC's are there in India. What will happen when there will be no international market or what if the other country like US will go in depression again. It does affect indian market a lot. But the part which is untouched due to the depression and other international affairs are agriculture which is the man occupation of indians and contribute 70% and more to the indian economy.
 
There are many strengths of the indian economy still the disparity between the poor and the rich people is highly increasing day by day. Economic disparities between rich and poor increasing due to the low economic development. The Economic disparities between the upper class and the middle and lower classes are increasing due to high food and commodity inflation rate after being the best in agricultural field.
 
Indian economy was previously dependent mostly on Agricultural sector but now we have educational sector, Private institutions, ITs, Pharmaceutical companies, contributing their major shares. Agricultural sector could do better further only if newer technologies are implemented and made available to the farmers.
 
Indian Economy is developing at a fast pace and has emerged as the 3rd largest economy in Asia. The IT industry, agricultural industry and the telecom industry has contributed a lot towards the development of Indian economy and its greatest strengths are the skilled labour, availability of natural resources like coal, iron, magnesium, lime stone, granite, etc and the demography of the nation.
 
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