: Sensational report about the world economy came out. The entire world will witness severe economic recession from 2023. But amid the bad news, there is a ray of hope for Asia and India. The report mentions that India will become a 10 trillion economy by 2035. World GDP will almost double from what it is today. And the Asian countries will be responsible for that. Asia will grow rapidly and will catch up with more developed countries.
The report also said that even in 2023, the central banks of various countries should continue with the inflation control policy. But in this bad news there is only one ray of hope. The report notes that India has significant growth potential. It is said that by 2035, India will become a huge economy of 10 trillion dollars. By 2032, it will become the world’s third largest economy.
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IMF Chief Economist Pierre Olivier Gaurinchas suggested a formula to transform the Indian economy into a $10 trillion economy. According to him, the Indian economy can be strengthened by increasing investment in education and health. Through this India can reach close to 10 trillion dollar economy.
Along with this, he also suggested some concrete steps, on the basis of which India can achieve its goals. He said that India is investing in buildings and roads, but if India invests more in human resources, India will also move forward.
Not all countries are likely to become $10 trillion economies. For some countries, this goal is very difficult to achieve, but India has the capacity to achieve this goal. But many countries have quickly crossed paths to become $10 trillion economies. Similarly, India also seems capable of reaching this goal, but it will require India to undertake structural reforms
The chief economist of the IMF said that India is one of the largest economies in the world. India’s growth rate of 6.8 percent or 6.1 percent in such a scenario is a big issue and needs attention. This pace of India’s economic growth is a big sign given the current environment.