Why is the world so bullish on India's economy? \ stacker news ~econ

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Why is the world so bullish on India's economy?m.economictimes.com/news/economy/policy/why-is-the-world-so-bullish-on-indias-economy/articleshow/113628614.cms

818 sats \ 13 comments \ @Coinsreporter 24 Sep econ

Indian economy is expected to grow at healthy average rate of close to 7% going forward from here for next 2-3 financial years as estimated by major global financial institutions.

S&P Global and Moody's Ratings both retained India's growth forecast at 6.8% for FY25.
S&P Global report also said last week that India is on track to becoming the third-largest economy by 2030-31.
International Monetary Fund (IMF) too had revised upwards the country’s growth forecast to 7% from its earlier projection.
Jamie Dimon expressed recently that India will become a 7 trillion economy by the end of 2030.
James Sullivan expects a massive $100 billion of inflows coming into India over the next few years.
John Chambers, who heads the India US Strategic Partnership Forum said, "I always try to think far out. India will probably be 90 to 100% larger than China at the end of the century and (by a) 30 to 40% margin of the US.

All Such growth forecasts are quite impressive especially when most of the other countries are facing slowdown worries. The US is looking down towards recession. China on the hand is already struggling with slowing GDP rate. Most of the developed economies have got caught up with economic uncertainties. Indian economy on the other hand has not only been resilient to all global uncertainties but also progressing very well.

Do you also think that India is on way to becoming a developed nation?

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130 sats \ 3 replies \ @BTC_Bellzer 24 Sep

The 1.5B population probably plays a tiny roll

261 sats \ 2 replies \ @Coinsreporter OP 24 Sep

It plays a big role definitely. It's India's advantage that it has almost 2/3 of the population aged below 35.

However, it can go both ways. If this much working population doesn't get work to do, we may even see a civil war type of situations. Having a big population is only advantage of there are options available to utilize them

0 sats \ 1 reply \ @BTC_Bellzer 24 Sep

The rampant cheating on testing and lying about skillset will not help under employment issues, that needs to be cleaned up first and foremost.

0 sats \ 0 replies \ @Coinsreporter OP 25 Sep

Are you talking about Skill development programs? I agree they aren't serving the purpose for what they were created.

120 sats \ 1 reply \ @stack_harder 24 Sep

they're bullish because of the estimated 7 bil inflows

will the average Indian's lifestyle go up though? and will their street vendors ever start wearing gloves?

41 sats \ 0 replies \ @Coinsreporter OP 24 Sep

The lifestyle has always been better than that of what you assume it to be. At least Indians don't need to leave their parents to Old Age Homes or they don't need to pretend some sophisticated mannerism. They are happy and satisfied people as I view them.

Now about gloves, I've a cross question. Do you really think that gloves can fight bacteria and germs? Or it's just another example of sophisticated mannerism propoganda.

Anyways, India is India and it'll be India.

My question was based on economics not Culture and traditions or what you called lifestyle. Thanks for bringing it in.

100 sats \ 2 replies \ @Undisciplined 24 Sep

"Developed" vs "Developing" are vague moving standards in development economics. The US and other western nations have developed considerable more since these terms came into use. It seems like they basically just mean a western standard of living vs significantly less than that.

With how the terms are used, India is probably very far from becoming a developed nation. However, India could certainly reach the level of prosperity enjoyed by western nations at the time they were first considered "developed".

Additionally, I expect to see particular cities reach a "developed" level at some point. Most likely that will be major ports of trade.

49 sats \ 1 reply \ @Coinsreporter OP 25 Sep

I agree. How much do you think it will take India to reach the level of prosperity western Nations enjoy currently?

0 sats \ 0 replies \ @Undisciplined 25 Sep

For India as a whole, I'd say several generations.

However, somewhere like Goa will get there much faster. A quick search turned up that Goa needs to roughly 4x it's prosperity to reach the low end of a modern western nation.

At 12% growth (not sure how feasible that is, but it doesn't seem insane), GDP doubles every 6 years and 4x is two doublings, so in 12 years Goa might be a recognizably modern economy.