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India GDP Growth: Amidst the stir in the global world on the economic front, India is moving forward with a faster speed than the rest of the countries of the world. On one hand, Pakistan’s economy is in worse condition. Inflation is touching the sky there and the neighboring country is taking a loan and running the economy of its country. On the other hand, China is also trying to overcome the shock of tariff war. Meanwhile, it is estimated to achieve 7 to 8 percent economic growth rate in the next one and a half decade of Indian economy.
Good news on the economic front
Romal Shetty, CEO of the South Asia unit of the global professional service provider Deloitte, said in his estimate that India has successfully recovered many global crisis in the years. While the IMF also said in its estimate that India remains the fastest growing major economy in the world. Also, this year, India can become the fourth economy in the world with about $ 4.2 lakh crore except Japan.
Shetty told the news agency PTI that India’s economy could increase at a speed of 6.7 percent due to tremendous performance in the service sector, improvement in agriculture production and increasing market investment in the current financial year. He says that the way India has become an economy combative despite the coronic epidemic and Bhurajnic stress, and the economy can grow at the rate of 7 to 8 percent of the economy for the next one to one and a half decades.
Better trade deal between India and America
Shetty said that Indo-US relations are the strongest in the last several years. Due to this, there is a more similar basis between the two countries than before. His remarks have come amidst the time-limit of August 1 of putting high tariffs on India.
He says that the high tariff rates of this time will be reduced and the trade war will also end. Along with this, Indo-US and US are trying to find a middle way, protecting their interests. He hoped that there will be an agreement between the two countries that will give significant benefit to both the markets.
