Moody: India’s GDP crossed $3.5 trillion mark in 2022

[NG Missile Vessels]

New Delhi: India’s GDP size grew to $3.5 trillion in 2022 paving the path for India to remain the world’s fastest-growing major economy, according to Moody’s Investors Service. However, the rating agency warned against red tape hampering reforms.

The license-permit raj or bureaucratic hurdles to ease of starting a business may interfere with India’s growth path, Moody’s said.

As India competes with Vietnam and Indonesia for foreign direct investment, the country’s bureaucracy may affect its “attractiveness” for potential investors, the rating agency added.

India’s growth is expected to be driven by a sizeable young population that is educated and working. More nuclear families and urbanisation will be drivers of consumption-led growth, added Moody’s.

India’s manufacturing and infrastructure sectors are forecast to witness 3-12 per cent demand growth. However, this will trail China’s projected demand until 2030, said the rating agency

The rating agency listed potential red tape with respect to the following factors as potential growth hurdles;

●Land acquisition
●Regulatory clearance
●Securing licences
●Process of setting up a business

Regional trade agreements may also weigh down foreign investments, said Moody’s.

While the government has taken encouraging steps to curb corruption, drive tax collection and bring all economic activity under formal sector recognition, their effects face risks.

The changes related to the following aspects of the economy may yield results if implemented judiciously, said Moody’s:
●Labour laws
●More efficiency in agriculture
●Infrastructure investments
●Fillip to manufacturing
●Financial sector support

India’s GDP crossed $3.5 trillion mark in 2022, says Moody’s

India's GDP growth is expected to remain strong going forward though some challenges may be posed by bureaucratic hurdles and lack of clarity on how to set up businesses and securing clearances.

www.google.com

GDP over $3.5 trn in 2022, India fastest-growing G20 economy: Moody's

In a research report, the US-based rating agency said bureaucracy could slow approval processes in obtaining licences and setting up businesses, prolonging project gestation

www.google.com

 

[legacytiger18]

View attachment 931263
New Delhi: India’s GDP size grew to $3.5 trillion in 2022 paving the path for India to remain the world’s fastest-growing major economy, according to Moody’s Investors Service. However, the rating agency warned against red tape hampering reforms.

The license-permit raj or bureaucratic hurdles to ease of starting a business may interfere with India’s growth path, Moody’s said.

As India competes with Vietnam and Indonesia for foreign direct investment, the country’s bureaucracy may affect its “attractiveness” for potential investors, the rating agency added.

India’s growth is expected to be driven by a sizeable young population that is educated and working. More nuclear families and urbanisation will be drivers of consumption-led growth, added Moody’s.

India’s manufacturing and infrastructure sectors are forecast to witness 3-12 per cent demand growth. However, this will trail China’s projected demand until 2030, said the rating agency

The rating agency listed potential red tape with respect to the following factors as potential growth hurdles;

●Land acquisition
●Regulatory clearance
●Securing licences
●Process of setting up a business

Regional trade agreements may also weigh down foreign investments, said Moody’s.

While the government has taken encouraging steps to curb corruption, drive tax collection and bring all economic activity under formal sector recognition, their effects face risks.

The changes related to the following aspects of the economy may yield results if implemented judiciously, said Moody’s:
●Labour laws
●More efficiency in agriculture
●Infrastructure investments
●Fillip to manufacturing
●Financial sector support

India’s GDP crossed $3.5 trillion mark in 2022, says Moody’s

India's GDP growth is expected to remain strong going forward though some challenges may be posed by bureaucratic hurdles and lack of clarity on how to set up businesses and securing clearances.

www.google.com

GDP over $3.5 trn in 2022, India fastest-growing G20 economy: Moody's

In a research report, the US-based rating agency said bureaucracy could slow approval processes in obtaining licences and setting up businesses, prolonging project gestation

www.google.com

3.5 trillion USD GSP is very small for a 1.4 billion population, but, nevertheless, this is a good start. Next sight is on 5 trillion by 2025-2026, and 10 trillion at around 2030 ,otherwise, all the young population would become old . China has done this really well i.e used all young population to reach higher GDP pretty quick

 

[beijingwalker]

China has done this really well i.e used all young population to reach higher GDP pretty quick

China took the advantage of its vast workforce and quickly built itself into a global manufacturing and export powerhouse, China's rise , for decades was riding on the dynamic foreign trade and exports, I haven't seen a similar trend about India.

 

[Kuru]

The license-permit raj or bureaucratic hurdles to ease of starting a business may interfere with India’s growth path, Moody’s said.

This.

When will this go away!

 

[legacytiger18]

China took the advantage of its vast workforce and quickly built itself into a global manufacturing and export powerhouse, China's rise , for decades was riding on the dynamic foreign trade and exports, I haven't seen a similar trend about India.

Thats true, China really converted all young population into viable work force real quick and reaped huge economic gains. India is very slow, democracy is the real culprit here. but , anyways, things are improving very fast now. we are targeting 5 trillion by 2025-2026 and towards 10 trillion by 2030ish . Time to learn from rivals

 

[wildlens]

we should not become like China. we should develop in our own way. This is not a race. India has to grow steadily and sustainably.

 

[Skull and Bones]

I hope we cross 3.8 billion this year.

 

[beijingwalker]

we should not become like China. we should develop in our own way. This is not a race. India has to grow steadily and sustainably.

If you like to develop fast, there's no other options, Japan and Korea also followed the same pattern, time and tide wait for no one.

 

[legacytiger18]

If you like to develop fast, there's no other options, Japan and Korea also followed the same pattern, time and tide wait for no one.

I agree, if we dont do it fast, someone else like Indonasia or Vietnam will catch the tide. india has time till 2030. After that,it will lose young population advantage and growth will slow down

 

[wildlens]

If you like to develop fast, there's no other options, Japan and Korea also followed the same pattern, time and tide wait for no one.

No not fast but sustainably. Japan China and the Asian tigers grew fast but there are other problems like dependency on export, population implosion etc. India needs to grow first by having a better hdi. Need not grow fast for that.

 

[iamnobody]

If BJP continues to rule, Ambani's and Adani's net worth will cross 1 trillion mark bu 2030.

 

[beijingwalker]

No not fast but sustainably. Japan China and the Asian tigers grew fast but there are other problems like dependency on export, population implosion etc. India needs to grow first by having a better hdi. Need not grow fast for that.

India now is having a massive trade deficit, I just can't see how a country can sustainably grow only by buying but not selling, US is doing this because it had already reached the development level and they can manipulate dollar predominance, can you give another example who can do the same?

 

[pikkuboss]

India now is having a massive trade deficit, I just can't see how a country can sustainably grow only by buying but not selling, US is doing this because it had already reached the development level and they can manipulate dollar predominance, can you give another example who can do the same?

Care to check that India no longer has huge trade deficits. In a year or two, we will have trade surplus. India is currently in a high growth trajectory, things change every year.

This is the figure for April month and India is posting similar figures for last few months.

 

[nahtanbob]

India now is having a massive trade deficit, I just can't see how a country can sustainably grow only by buying but not selling, US is doing this because it had already reached the development level and they can manipulate dollar predominance, can you give another example who can do the same?

Does India trade deficit include services ?

 

[beijingwalker]

Top surplus countries

Top deficit countries