India has moved fairly well with the times and in fact the economy seems to have adapted well with changing circumstances. First the Covid-19 pandemic put the brakes on the Indian economy for about two years and then the geo-political developments have left an indelible imprint on the economy which is however relatively coping up well until now. During the pandemic there came the necessity of doing things remotely and this experience has become a part which will remain as now even students are conversant with using mobiles of android variety since they partook of distance learning. The digitisation of the economy has also percolated into the banking sector with now people doing digital transactions which have included the strata of society that until now were aliens to digital transactions. At the moment, India’s Information Technology business seems to be well poised to grow as almost all IT companies have expanded their business not just in India but also in the developed world with IT companies now providing most types of services that include many sectors and which until a few years back might have been the domain of only developed world. Indian IT companies now vie with the best in the world and have been growing at a steady pace. Besides the IT companies, the pharmaceutical business has also done exceptionally well even though this sector includes a number of well entrenched multinationals that play an important role. Indian pharmaceutical companies will impose its imprint with the passage of time into the future. Our banking system has improved quantitatively and qualitatively and is doing business with a high degree of expertise which seems to be here to stay with also other finance and non banking finance corporations on target to register volumes as well as technological edge which makes a big country like India with a big clientele poised to grow in size and services quality. India’s banking sector is competing with the rest of the world to become significant contributors in the future. In the automobile sector, also Indian collaborations with top vehicle makers has been up to the mark with Indian companies set to become significant market share stakeholders. The electrical vehicle industry is also set to do well in India, which if the coming budget provides for will reduce India’s dependency on petroleum products such as petrol in particular as well as diesel. Some of India’s top companies are also venturing into the hydrogen fuel cells vehicle space which will give a technological edge to even exports in the coming future. Even FMCG, steel, other ferrous metals and non ferrous metals as well as consumables are set to do well in the coming years. India’s top 500 companies are well on target to accomplish growth in volume as well as quality in the coming years.
In fact the pandemic as well as the geo-political developments has made India capable of coping up with difficult times and this will in fact be a positive aspect for India’s future.
India has done better so far than its other global peers, and barring unforeseen circumstances India will grow from strength to strength in the future. Resilient India is bound to make a huge impact on the world.
