India is the fastest growing economy in the world today. International Monetary Fund (IMF) predicting that India is likely to retain this status till 2020. With the Gross Domestic Product (GDP) of the country growing at more than 7% since 2014, the IMF has kept projections for India’s growth in 2016-2017 at 7.5%2, which is remarkable since there has been a forecast of the global growth predicted at 3.4% in 2016 and 3.6% in 2017, as reported by the national daily, The Hindu.3 India is also the third-largest economy in the world regarding its purchasing power parity according to the World Bank with the GDP of over USD 2.1 trillion.4 It was named amongst the top 10 Foreign Direct Investment (FDI) destinations in 2015.

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The country is home to the 2nd largest English-speaking population in the world after the Unites States. It also has the largest youth population in the world at 650 million with more than half the population below 25 years of age. This demographic is arguably India’s greatest strength. As United Nation (UN) report stated, ‘developing countries with large youth populations could see their economies soar, provided they invest heavily in young people's education and health and protect their rights. Furthermore, India’s smartphone users are numbered at over 220 million, making it the second-biggest smartphone market regarding active unique smartphone users, surpassing even the US market.6, India is also making headway in media with over 100,000 registered publications and 800 television channels.

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Looking at these statistics, one cannot deny that India has an incredible potential to rise as an economic power with a prosperous future. A decade-long study by Harvard University's Centre for International Development predicts the country’s GDP will continue to expand at an average of over 7% which means nominal GDP will nearly double to around USD 4.50 trillion (at current exchange rate) in 2025. India’s purchasing power parity in 2025 will thus be around USD 15 trillion by a similar calculation. It is also set to be the 5th largest consumer market by the same year.

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In 2014 Indian Government introduced Make in India concept for ease of doing business with India. A major national initiative designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build best-in-class manufacturing infrastructure. There has never been a better time to make in India! 

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