How does an economy grow? To put this in layman’s perspective, an economy grows when a country imports less than what it exports when people have jobs, inflation is at its lowest when start-ups thrive, healthcare is most advanced and there is a general ease of doing business.
For a country like India which has to import a majority of its energy needs the thrust on the manufacturing sector has to be the most forceful. Prime Minister Narendra Modi’s ‘ Make in India’ campaign is a masterstroke. It has helped generate a lot of jobs. Over a period of time we have seen how states like Tamil Nadu, Telangana, and Karnataka have emerged as manufacturing hubs of the country. When it comes to agriculture products, real estate and small industry machines even states like Madhya Pradesh, Uttar Pradesh, and West Bengal are witnessing an upward curve. A state like Uttar Pradesh where manufacturing was next to nothing is now witnessing an economic boom with more than 300 billion dollars GDP. The current Chief Minister Yogi Adityanath wants to make it a one trillion-dollar economy. If the present upward trend is anything to go by he is on course to take it there.
The state of Karnataka which hosts India’s Silicon Valley is progressing at rapid speed as is Tamil Nadu and Kerala. India looks on course to become a five trillion dollar economy in another three to four years.
The stable government at the centre has undoubtedly contributed to this. The foreign investors see Narendra Modi as a great leader who can transform the economy of the country.
The economy of our union territory Jammu and Kashmir is also on an upward path. We are hopeful that the efforts of the current Lieutenant Governor will bear fruit and Kashmir can push forward towards the dream of a 200 billion dollar economy.
