INDIAN ECONOMY NEEDS TO ROAR - Business & Economy - General Economy - TIK Share

INDIAN ECONOMY NEEDS TO ROAR


BINESH NAIR

2014-11-11

The global economy is showing signs of growth and development. Indian economy is no exception and due to the rise of many IT oriented industries the economy is on a upward trend. Many European nations like UK, France, Holland are out of recession. US has started the policy of economic growth and development and is going on a faster pace. Japan is the king of Asia and is trying to give a stiff competition to other nations of Asia in general and world in particular. Consumer spending in China is very optimistic and growing at a reasonable pace.

India is going at full throttle in the year 2014 due to its robust policies undertaken by the new government in power under Modi. Due to the high prices of the imports of energy resources, the country is going towards utilising the national resources. Saudi Arabia is the hub of Petroleum products and USA is playing a vital role in the energy map of the world.

Our environment policies must be designed in order to suit the need of the people and fullfill their commitments. We have not been able to assert the power and supremacy in South Asia as we should have. We have not been able to fullfillment the commitments given to Srilanka, Myanmar, Bangladesh and other nations in Asia. Our neighbours are facing through political instability and corruption is always on the rise. Rejuvenating the economic and environmental policy is the need of the hour, if we want to raise our concerns in the world politics.

Only a robust and power foreign policy can play a vital role in enhancing the growth and development of our people. Indias IT industry is growing at a faster pace and the impact of application is going to play a vital role in the years to come. We need to face the challenge of Gen X and Gen Z apps. According to the experts, we must be jack of all trades and experts to make up for the fallacies of the last decade.

Companies like Samsung, Maruti, Nokia have come and set up their bases in India to cater to the rising demands of the people and this is a good sign.