An economist and former member of the World Bank team says India has the potential to become the next leader in economic growth and jobs.
Chandrababu Naidu, who has worked in a variety of sectors including telecom, finance, education and manufacturing, told Business Standard that India has “the potential to be the next” leader in the field of economic growth, as a nation with a rapidly growing middle class.
India has seen an increase in the number of young people starting jobs since 2010, and the country is also one of the fastest growing economies in the world.
According to Naidul, while many countries have seen a slowdown in growth, India has been in the middle of the pack in terms of the number and rate of job growth.
In a recent survey conducted by the McKinsey Global Institute, India was ranked as the eighth most productive economy in the entire world, and it is the fourth largest economy in terms the number, rate and productivity of jobs.
This growth in job creation, he said, has been “unparalleled in the past.”
“We have a lot of young entrepreneurs, and we have also been attracting talented professionals, from a young age.
That has allowed us to expand our market and also the talent pool of the country.
In the next five years, we will be a huge economic power, and in terms to increase the share of young adults, we are looking to increase our exports,” Naidus said.
Naidu said that India’s success in the last five years could be attributed to a number of factors including a shift in mindset, which has led to the adoption of “barefoot economics”.
“A lot of the issues related to growth, poverty, infrastructure, etc. were brought back to the forefront.
We have been doing a lot to get back to barefoot.
And the people have been embracing that, and have embraced this,” N. Chandramouli, who worked in the finance department of the central bank, said.
The economist, who now runs the Centre for Policy Research, also added that there were two trends shaping the growth in India.
One was the growth of the middle class, which is growing rapidly, and a second trend was the shift from a rural to a urban economy, which he said was a result of the government’s policy to address the needs of the urban middle class with a new urban-centric development strategy.
“I think what is also happening now is the emergence of a new generation of middle class and the emergence is a new kind of business,” Nabu said.
He said India has already seen the impact of the digital revolution in terms how many jobs have been created in the sector and how people are earning more.
“There are still more jobs to be created, but it is also the fact that a lot more people are able to earn their livelihood in the digital age.
I think we are also seeing the impact from the changes in the global economy.
People are being able to invest in the new infrastructure that is being built.
The government has also been very active in creating opportunities for people in rural India,” he added.
India’s middle classThe economist said that the rise of the Indian middle class in recent years has been a big success story for the country and it has been an indication that the economy could be heading towards prosperity.
“India has witnessed a significant increase in job growth for the last four years.
This is an indication of the economic strength that India can achieve.
There are a lot reasons behind this, the government has been very supportive of young entrepreneurship.
There has been much work being done to encourage people to do their own work, to do the housework themselves,” he said.”
We are also looking at creating opportunities, especially in manufacturing, in the countryside.
We are also trying to create opportunities in the services sector, particularly in the manufacturing sector.
We should also be looking at a focus on agriculture, agriculture has become a very important part of the economy,” he continued.
He added that India is “one of the few countries in the region that is still growing at the rate of one per cent per year”, which has allowed it to take the lead in the development of a diverse economy.
He also noted that India remains one of Asia’s fastest growing middle classes, which in turn is a testament to the government and the government-run National Rural Employment Guarantee Scheme (NREGS).
“There is a very big change happening in the economy and I think there is also a lot that can be done to boost this middle class,” he pointed out.
The McKinsey report also noted how the growth rate of the rural sector is expected to rise from 3.3 per cent to 4.4 per cent over the next 10 years.
“The Indian middle-class is becoming more and more educated, which helps us to have a much more diverse economy in general.
We need to encourage that middle class to get involved in the labour market,” Nair