As a result of India’s investment-led growth trajectory, several experts have produced an upbeat appraisal of the economy, resulting in the rapid rise of a USD 5 trillion GDP. The impressive performance of the Indian equity market isn’t seen as an isolated incident, but rather as the start of a long-rising trend. In addition, China’s weight in the MSCI Emerging Markets Index has decreased by 7 percentage points, compared to an increase of 5 percentage points for India, reported Asian Lite International.
But the Indian economy has surprised the globe in more areas than just the financial industry. The world is now aware of India’s enormous economic potential thanks to the new Air India agreement with Boeing and Airbus. India’s historically large order on the global market has established the principles of demand-driven growth.
The deal for more than 500 aircraft has several backward and forward connections that benefit both the Indian and global economies.
The pact, hailed as a “historic agreement” by US President Joe Biden, is expected to generate over one million new employment in the US. Prime Minister Rishi Sunak of the UK appreciates the agreement since it would help the country’s economy thrive and create jobs.
Additionally, the agreement is expected to increase employment by more than 5000 jobs in the Indian aviation industry, which will benefit both the manufacturing and service sectors globally, read a report in Asian Lite International.
