June 07, 2020
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India's Decade

India's Decade

Already one of the world's top growers, India could become the fastest growing economy in the next decade.

India will grow at 7 per cent in 2001. Korea, the leader now, and China will log only 6.5 per cent, says the Asian Development Bank.

At 7 per cent average growth, per capita income doubles in the next 10 years, setting the stage for 8-10 per cent growth, with reforms on course.

This decade of development will be led by the new economy and services boom, helped along by industrial and infrastructural recovery.

A sharp rise in the population of the economically active (16-60 years) will trigger a consumption, savings boom. Social sector reforms will take it further.

Right now inflation is moderate, forex reserves at a record high, current account deficit is low, rupee is depreciating and trade booming. A good monsoon signals a good farm output.

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