Building India Inc. 2018 presents the theme for Samvaad
Building India Inc. 2018 presents the theme for 'Samvaad', the Economics conclave - 'Indian Economy: A Giant Ready to Catapult'.
A few years ago, India was a poster child for political stability and economic growth among emerging and even developed economies. Though the country had a long way to go to eradicate poverty and extreme income and gender inequality, when it came to steady GDP growth, it was among the world’s strongest and most consistent performers.
Given the Indian economy’s massive size and extensive global linkages, its growth slowdown is a source of serious concern not just domestically, but around the world. But it is not too late for India to reverse the trend. The key will be carefully crafted policies that address both short- and long-term challenges.
Indian economy needs to strengthen some of its grey areas and capitalise on its rich demographic dividend that it feels proud of. Indian economy is backed by youth but corruption is the most problematic factor. The disruption caused by the policy may have an adverse effect in the short-term, but it could also prove to have long-term benefits. The economy can grow once it is more inclusive, for example broadening its tax base, reducing the gender gap, adapting to machine learning, etc.
India has scope to build on its own start-up environment and with improvements in the rank worldwide ranging from health and education to economics and politics, Indian economy still has much to gain.