Let’s start a new business and improve our falling economy.
Friends, as we all know that covid-19 ruined the economy of the whole world. The economy of the entire – world was shattered badly. If we talk about India, our developing economy also fell badly. Our GDP fell to minus 35. The question arises that when the economy of the whole world is falling, then how can we improve our falling economy? Yes, let me tell you today how you can strengthen the economy of the country by increasing your income even in this pathetic situation. When we think about the new business opportunity firstly we have to understand the current state of the Indian economy because we will get new opportunities in new business.
Friends come with us Business Batao company. We will tell you, teach you and train you for new business opportunity. It is not important for us, how much money you have to start a new business. We will show you how to start your own business on millions of rupees to zero balance and get a new opportunity
Feature of our economy:
- India has one of the world’s highest numbers of billionaires and extreme income inequality.
- India has free trade agreements with several nations, including ASEAN, SAFTA, South Korea, Japan, and few others which are in effect or under negotiating stage.
- India ranks second globally in food and agricultural production, while agricultural exports were $38.5 billion.
- India is the second-largest employer in real estate and construction after agriculture and played a vital role to enhance economic activity.
- India’s telecommunication industry is the world’s second-largest by the number of mobile phones, Smartphones, and internet users.
- It is the tenth-largest oil producer and the third-largest oil consumer in the world. The Indian automobile industry is the world’s fourth-largest by production.
Fourth factors of our economic growth:
Economic growth only comes from increasing the quality and quantity of the factors of production, which consist of four broad types:
- Land,
- Labor,
- Capital,
- Entrepreneurship
Three main sectors of the Economy:
The three-sector model in economics divides economies into three sectors of activity:
- Extraction of raw materials (primary),
- Manufacturing (secondary)
- Services (tertiary).
The largest sector in the Indian economy:
- Services sector
The services sector is the largest sector of India. Gross Value Added (GVA) at current prices for the Services sector is estimated at 92.26 lakh crores INR in 2018-19. The services sector accounts for 54.40% of total India’s GVA of 169.61 lakh crores Indian rupees. The service sector makes up 55.6% of GDP and remains the fastest-growing sector, while the industrial sector and the agricultural sector employs a majority of the labour force.
The backbone of Indian Economy:
- Agriculture
Agriculture is the backbone of Indian economy as roughly 70-75% of the population depends directly or indirectly on agriculture. Indian economic growth is directly proportional to the agriculture industry growth.
Tips to improve the economy of India
- India should adopt the approach of selectivity regarding globalization, liberalization and privatization.
- Regulatory and the monitoring system of the State need to be strengthened and made more effective. No one can deny the strong role that the State has to play even in the context of the market-driven paradigm of development.
- Foreign direct investments should be permitted and encouraged only in those sectors which would significantly contribute to income generation, employment creation, and net export earnings.
- The approach of globalizing the financial markets without commensurate globalization of the real sector could have dangerous consequences of excessive short term debt resulting in instabilities and crises of the Mexican type.
- India should Endeavour to strengthen the infrastructure, and human resources covering areas such as universal literacy and health for all, for improving what one may call as the social capability of the economy for taking advantages of the globally competitive environment.
- India should take a leadership role on various international economic issues for mobilizing support from like-minded countries of the world for strengthening the bargaining positions of the developing countries on the current issues of negotiations.
- India should not give up its aspirations for maintaining and strengthening the paradigm of intellectual self-reliance for taking its own decisions to serve its national interest in the best possible manner without denying to itself the advantages of the emerging new opportunities and challenges of development.
You can make your own business opportunity after getting training by Business Batao and you will get more new business ideas and new opportunity for understanding franchise ideas and business visits at Franchise batao