International Journal For Multidisciplinary Research

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Indian Economy in 2014 – 2024 and the transformation of India

Author(s) Dr. Onkarnath ., Dr. Deepak Kumar
Country India
Abstract The Indian Economy is a curious study matter for experts all around the world. The cause is the resilience it has shown in spite of the Global slowdown post the Corona Virus epidemic. This research is an attempt to showcase the growth of the Indian economy in the decade spanning 2014 – 2024, and also how the forecast holds for India. The import and export of India has been increasing, and the visible items viz. goods are also increasing with a greater rate than before. This has given a fillip to the foreign trade. Also the foreign direct investment has grown over the years with the investment climate becoming better for investors. Also the Indian investors have been given good subsidies for growing their business, and the emphasis has been on increasing entrepreneurs, which has had a positive impact on the growth of employment and subsequently the Economy. The Export growth has been significant since 2014 with a 67% increase from 466.22 Billion US Dollars to 778.21 Billion US Dollars. This has been in addition to the service exports which have been steady. The growth in the manufacturing sector has really helped the economy to experience rapid growth. The economy has grown by 6.4% in the past year (2024) and continues to hold steady at around 6-7% and around. This is in contrast with big economies like China where there has been a slowdown and the economy is growing at 3%. There has been an upgrade of infrastructure in the past decade along with some key challenges like Foreign Investment. The current regime has also successfully done away with a lot of red-tapes in Government transfers by taking the digital way. The research will focus on positive outcomes and how the growth will take India forward.
Keywords Indian Economy, GDP, Policy, Balance of Payment, Liberalization, Export, Import
Field Business Administration
Published In Volume 7, Issue 3, May-June 2025
Published On 2025-06-11
DOI https://doi.org/10.36948/ijfmr.2025.v07i03.47425
Short DOI https://doi.org/g9qp4j
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