India is a bright spot in the global gloom and doom of rising geo-political tensions, slowing developed economies, rising prices and the inevitability of a western world recession (not global). It is the world's fastest growing major economy in 2022 with projected growth of close to 7 per cent, despite multiple global crises.
The consensus amongst leading economists is major economies of North America, Europe and even China are going to struggle to avoid a recession, but India's economy is projected to grow between 5-7 per cent in 2023.
A major economic dividend from the continued investment in and government's support to the technology, agriculture and infrastructure sectors compounded by an enviable young talent base and strong consumer demand safeguards India's growth prospects in 2023 and beyond. I see exponential increase in global investment interest forIndia, particularly in the technology sector, as it remains one of thelast sizeable and homogenous growth markets. Digitisation of India's SMEs and Rural Economy is going be the major growth engines for thecountry over the next decade.
- Shauraya Bhutaniis, Co-Founder of Capital Connect Advisors and Founder of Breathe Capital
