What are the major factors contributing to India's GDP growth till 2025-26

Understand the role of a specific technology in India's economy growth as stated by IT Minister Chandrasekhar.
There are several factors that are expected to contribute to India's GDP growth till 2025-26. These include:
  • Structural reforms: The government's focus on structural reforms such as the Goods and Services Tax (GST), inflation targeting framework, and Insolvency and Bankruptcy Code (IBC) are expected to make the Indian economy more efficient and boost growth.
  • Investment in infrastructure: India has been investing heavily in infrastructure, including roads, railways, airports, and ports, which is expected to boost economic activity.
  • Demographic dividend: India has a young population, which is expected to continue to grow for the next decade, providing a large workforce that can drive growth.
  • Digitalization: The IT sector has played a crucial role in India's economic growth. The IT Minister, Chandrasekhar, has highlighted the importance of emerging technologies such as AI, blockchain, and cloud computing in driving growth in the sector, and consequently, in the Indian economy as a whole.
In particular, the IT sector has been pivotal to India's growth story. The sector has grown at an exponential pace over the past few decades, contributing significantly to the country's GDP. The IT Minister recently noted that India's IT exports had crossed the USD 50 billion mark in 2020, despite the COVID-19 pandemic, underscoring the resilience of the sector. In particular, emerging technologies such as AI, machine learning, and blockchain are expected to drive growth in the sector. The government's focus on developing digital infrastructure and promoting digital literacy is expected to further boost the sector's growth and its contribution to the Indian economy.
Answered a year ago
Amrita Preparing for Civil Services