INDUSTRY
India has always been known for its high-quality products, but now it seems they are also becoming well known for their exports. In fact, according to the World Bank, Indian export growth was the fastest growing in the world between 2010 and 2015.
The country has become a significant exporter of goods such as steel, textiles, gems, jewellery, leather, pharmaceuticals, and automobiles. According to the International Monetary Fund (IMF), India’s economy grew at 7% last year, compared to 4.5% globally. This growth is expected to continue into the next decade.
With a population of over 1.3 billion people, India is already the third largest economy in the world. And with the government pushing for further economic reforms, the country is poised to become even more significant. If current trends continue, India’s GDP could reach $1 trillion by 2030. This growth is being driven by the country’s burgeoning middle class and their increasing purchasing power.
The majority of India’s exports are currently in the form of textiles. Still, there is significant potential for growth in other sectors, such as pharmaceuticals, information technology, and engineering. If you are looking into exporting, Kunal International India can help you get started, as India has already established itself as a leading player in these industries. With continued investment and reform, it could become a significant global player within a few years.