Discussion Indian Economy Discussions

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I don't have knowledge of economics but from what I can see on ground reality is -
1. Currently, everything is in excess that people buy (apart from food).
2. I get the feeling people already have everything they need and theres not much they need to buy
3. Combining 1 and 2 and you can imagine the scene

Basically, in my opinion, - too much supply and very less demand.

The other factor i've noticed in the last one year or so - online companies, phones and digitization have changed every sphere of life in India
 
India is now the world’s 5th largest economy, according to IMF
With a GDP of USD 2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot...
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"The country’s GDP growth has been among the highest in the world in the past decade – regularly achieving annual growth of between 6-7%.

Also poverty reduction rates are among the highest in the world, with more than 160 million fewer people living in extreme poverty in 2000 compared to 2015."


https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD
 
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