India’s recent economic growth suggests immense potential that has gone largely untapped. But achieving genuine prosperity will be difficult without far-reaching reforms aimed at creating high-quality employment opportunities and guaranteeing living wages for a young population.
NEW DELHI – India seems to be everyone’s favorite growth story nowadays. Despite valid concerns about the accuracy of official statistics, the Indian economy is projected to expand by 6.3% in 2024 – an undeniably remarkable feat given that its GDP exceeds $4.1 trillion. While it remains a lower-middle-income country with a per capita income under $3,000 (at market exchange rates), India’s rapid growth suggests that its economic potential may be greater than expected.
NEW DELHI – India seems to be everyone’s favorite growth story nowadays. Despite valid concerns about the accuracy of official statistics, the Indian economy is projected to expand by 6.3% in 2024 – an undeniably remarkable feat given that its GDP exceeds $4.1 trillion. While it remains a lower-middle-income country with a per capita income under $3,000 (at market exchange rates), India’s rapid growth suggests that its economic potential may be greater than expected.