Economy of India in 2022: How India Remained Strong

 


Original Content- Business Upside India

With the support of its strong democracy and solid alliances, India has become the largest economy with the highest rate of growth in the world. In the next ten to fifteen years, it will rank among the top three economic powers. Despite geopolitical unpredictability and concerns about a slowdown in worldwide growth, the economy of India has proven to be resilient. In fact, among the big economies, the 2QFY23 Economic growth estimate was only surpassed by Saudi Arabia.

Despite this, there are stress areas and the total economy of India yet needs to regain the ground that COVID-19 caused it to lose, according to a report by India Ratings.

Economy of India During 2022

In Q3 2022, the current economy of India grew by 6.3% YoY, somewhat exceeding expectations but still lagging behind the 13.5% growth in Q2, as COVID lockdown-related illusions began to disappear, high costs and higher India economic growth rates impacted demand, and decreasing global demand began to affect exports.

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