Top 5 reasons behind India’s exponential growth

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India’s exponential growth

As one of the fastest growing economy in the world, India’s growth story is increasing its volume with the movement of time. There are so many key elements in the growth story of India but top elements are:-

Information Technology

India is producing maximum numbers of IT professionals in the world. Yes, it is true that the Information technology is a continuously growing sector in India. Today, when the country is ready to write a new growth story, the IT sector is broadcasting its success level. You could ask about the key elements behind its visible growth.

1. Supportive government policies
2. Low cost of operation
3. High availability of manpower
4. Introduction of cloud computing
5. Visible growth in demand

Top NBFCs in Delhi, Mumbai, Chennai, and Kolkata are the other factors initiating the job creation in an increasing rate. However, the sector which is producing maximum numbers of jobs is not static; it is continuously moving towards a better level.

[Also see: Few Things You Need To Know About The NBFCs]

Infrastructure

exponential growth

When we talk about long-term growth, infrastructure comes first which is based on the real estate and the transportation sector. House for all is the prime initiator of Indian real estate while the road construction has taken an outstanding speed. However, the smart city mission is the other initiator of Indian infrastructure sector.

Manufacturing

Aiming to grow the job creation sector, the Indian government has taken an initiation to push the manufacturing sector. Interestingly, the Make in India scheme is inviting the foreign investors to invest in India which is directly pushing the emerging FINTECH startups. During the Make in India Week, this year, India has received a magical amount of US$230 billion for the very first time.

Railway

Owned and operated by the Ministry of Railways (Government of India), and covering 115,000 km; Indian Railway is known as world’s largest railway network. Contributing a major portion of India’s GDP, it is playing one of the key elements of our growth. With the recent developments, during last 2.5 years, it has increased its performance up to certain. Reportedly, IR has carried more than 8 billion passengers in 2015-16 FY, which is expected to be increased in the days to come. Obviously, it is one of the main pillars of our exponential growth.

Export

With the maturation of manufacturing sector, India is eyeing on its export which is directly proportional to our growth story. At present, India is exporting petroleum products, pharmaceutical products, engineering goods, agricultural & allied products, chemical products, and textile products to UAE, USA, China, Singapore, Hong Kong, Netherlands, and much more. Surprisingly, the volume is expected to be increased in the years to come.

However, the startups Digital FINTECH Platforms are helping the country in eyeing on more growth.

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