Swot of Indian Economy

Published: 2021-06-29 07:06:36
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Category: Miscellaneous

Type of paper: Essay

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The developing economy of India is developing at a very fast rate and is the second contender after China in the race of super power. Indian economy has strengths which can do wonders to the economy if its weaknesses are worked upon. It has a vast pool of opportunities offered to it by the world due to its structure and the bright future which it has. There are also threats which can prove hindrance in its path to success but then it's the duty of Indian government and its people to watch out for these threats and save their economy from being affected by any of these.
India is an agricultural country with its major population employed in this sector. The strength in this sector which India enjoys is the huge cultivable land (2nd in world), huge labour force, diverse soil type and climate and most important government's special support to this sector in the form of subsidies and welfare schemes for farmers. Indian economy is a stable economy due to its structure and control tactics which it has in the form of monetary and fiscal policies. Any crisis in any part of the world has an equal effect on other parts as well but RBI and Indian government have always succeeded to isolate Indian economy to a great extent as in cases of recession and euro zone crisis. Huge English speaking population and a large reservoir of engineers have opened the doors for service sector in India. Emerging IT and BPO sector is bringing valuable foreign exchange and hence service sector is the largest contributor to GDP today.

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