India’s domestic economy is the main engine of its growth.Image Credit source: Representational Image
Europe is sinking Germany is technically in recession. America, which is called the super power of the world, is also in a bad condition. Especially there is an atmosphere of devastation in the banking sector. On the one hand, the condition of the big powers of the world is battered.
Rating agency Moody’s has once again expressed confidence in India regarding India’s growth. Although the rating agency says that bureaucrats are obstructing India’s growth, but the youth power here has the power to transform India into a superpower.
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According to the estimates of rating agency Moody’s, India will be the only country that will grow the fastest in the next 5 years. On the one hand, where there is an economic recession in the world, this is nothing less than good news for India. According to Moody’s, India’s GDP has been more than $ 3.5 trillion in 2022 and it will remain the fastest growing economy in the G20 for the next 5 years.
Bureaucrats became a roadblock
Moody’s has said in its report that there is immense potential for growth in India. But the bureaucrats here are creating hurdles in the way. In fact, getting a license or starting a new business in India is still a difficult task. The slow pace of bureaucracy is becoming a hindrance to India’s growth. The government needs to pay attention to this. If this continues then the attractiveness of FDI in India may decrease.
Youth power will make superpower
According to the report of rating agency Moody’s, India’s biggest plus point is its youth power. In fact, India is emerging as the largest market in the world. Today’s youth power of India has all the skills which are necessary to become a developed country. India has a large number of youth who are educated. This youth power is moving forward in every field. Because of which every region of India is progressing. Whether it is manufacturing, IT or any other sector, everywhere youths dominate. And this youth power can one day make India a superpower.
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