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India

Author

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  • Iulia Monica Oehler-Şincai

Abstract

Two years after the general elections of 2014, India's macroeconomic indicators show a favorable situation. Although official statistics are being questioned by international experts, and real growth rate of Indian GDP is estimated to be overvalued by about 2 percentage points, the Indian economy has a number of strengths and competitive sectors. Prime Minister Narendra Modi has adopted an agenda of "ambitious" reforms, focusing on modernization, boosting manufacturing and infrastructure development. The successful implementation of "Agenda Modi" would constitute a solid base for an attractive business environment and ensure jobs for approximately 1 million Indians waiting to enter the labor market each month. Ratification of the reform measures proposed by the actual government, however, depends on the position of the main opposition party, the Congress Party, which dominates the Upper House of the Indian Parliament. Moreover, the economic situation is also influenced by the evolution of prices for imported raw materials, relations with key trading partners and investor confidence in the Indian business environment.

Suggested Citation

  • Iulia Monica Oehler-Şincai, 2016. "India," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 164-170.
    • Handle: RePEc:iem:conjun:y:2016:p:164-170
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    Keywords

    India; macroeconomic indicators; economic growth; inflation; unemployment; general government net lending/borrowing; gross debt; structural weaknesses; reform;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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