India has jumped to the world’s sixth largest economy according to figures from the World Bank.
India’s GDP was $2.597 trillion as the economy rebounded from the slowdown caused by demonetisation and tax changes.
India is also poised to become the world’s most populous nation with 1.34 billion people – and still growing fast as one of the youngest nations.
This population is part of the reason for economic success – the so-called “demographic dividend” of a young population is paying off with local consumer demand being the major driver and India has been able to find the skilled workforce for a growing manufacturing sector.
This is a huge achievement with India more than doubling its GDP in less than a decade.
The experts believe India will soon overtake the fifth biggest economy, Britain, as the rise to the top continues.
Author: Stephen Manallack
Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand.
Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication.
Passionate campaigner for closer western relations with India.
Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India.
A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.
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