India’s economy faces significant challenges related to income inequality, lack of demand, insufficient workforce, and regional disparities. To address these deficiencies, the government has implemented various welfare programs and is pursuing trade agreements and subsidies to boost exports. However, sustainable economic growth requires reforms in labor and land regulations, investment in infrastructure and education, and measures to increase female labor force participation.
India, once a global economic powerhouse, has experienced a significant decline in its economic standing since its colonization by Britain. However, with its vast population and recent liberalization policies, India has the potential to regain its place among the top economies. To achieve this, India needs to address key challenges such as deepening liberalization, enhancing tax collection, boosting research and development, addressing inequality, and strengthening governance at all levels. Building a consensus among diverse stakeholders and bridging the gap between rural and urban areas is crucial for India to sustain its growth and become a major engine of growth for the world.
