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"A Comparative Analysis of GDP Composition between India and the Top 10 Developed Economies Across Regions"

  • Unique Paper ID: 170633
  • Volume: 11
  • Issue: 7
  • PageNo: 1149-1162
  • Abstract:
  • The Indian economy has proliferated over the last 18–20 years to become one of the largest emerging market economies given its strong and resilient GDP growth. This research article will help you show how India has grown its GDP after 2000 while contrasting it with countries like the US, Germany, and Japan to put things into perspective. India's IT and telecommunications industry have helped the country to become one of the leading economies in terms of GDP growth rate with increasing globalization; Factors like a young workforce, an increase in the middle class, and the continuing process of economic reforms have ensured high growth rates for India despite two global crises — the 2008 financial crisis or more recently through COVID-19 pandemic. The research delves into structural, demographic, and policy advantages of India relative to China, showcasing its strength in the service sector but also assessing areas where manufacturing & agriculture can improve. It takes note of India's population advantage against aging-developed economies and contemplates how this has been fueling economic productivity, and consumption widespread. The findings underscore several factors, which include robust economic diversity and a disciplined dependence on the lower export vis-a-vis advanced economies that are said to have propped up financial resilience in India. The study also highlights a set of strategic recommendations for India such as focusing on manufacturing, enhancing infrastructure, and promoting technological/skill-based education among others to keep its global positioning competitive. We provide insights on structural and policy measures that can help bolster economic potential in emerging markets within the context of an evolving global financial landscape.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 7
  • PageNo: 1149-1162

"A Comparative Analysis of GDP Composition between India and the Top 10 Developed Economies Across Regions"

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