The Expanding Indian Economy: Regional Influence and Global Reach
Abstract
India's emergence as one of the fastest-growing major economies has drawn global attention due to its transformative impact on international markets and geopolitical dynamics. With a GDP growth rate averaging 6–8% over the past decade, India has become the world’s fifth-largest economy by nominal GDP and third-largest by purchasing power parity (PPP). This robust growth is underpinned by several structural factors, including a young and dynamic workforce, rapid urbanization, technological innovation, improved ease of doing business, and proactive government initiatives such as Make in India, Startup India, and the Production- Linked Incentive (PLI) schemes. India’s economic rise has significant worldwide implications. Globally, it contributes to the diversification of supply chains, especially in manufacturing and pharmaceuticals, as companies seek alternatives to China. The Indian IT and services sector have cemented its role as a digital backbone for global enterprises. Additionally, India’s increasing energy demands influence international energy markets, while its large consumer base attracts multinational investments across retail, automobile, and e-commerce sectors.
How to Cite
Mangat Ram, "The Expanding Indian Economy: Regional Influence and Global Reach", Vol. 3, Issue 1, 19-04-2025, pp. 66-71.
