In the first quarter of 2023, India's economy has impressively grown by 7.4%, surpassing expectations and affirming its position as the fastest-growing large economy. Under Prime Minister Narendra Modi's leadership, there is a long-term vision to make India a developed nation by 2047. However, this promising growth has sparked criticism regarding whether such advancements truly improve the lives of all Indians. Advocates call for deeper reforms necessary for broader economic competitiveness and sustainable growth. The article also briefly touches on the geopolitical implications of the US-China trade war and OPEC+'s decision to increase oil output.
India's economy showcased remarkable growth of 7.4% in Q1, making it the fastest-growing large economy. Critics, however, urge for reforms to ensure this progress benefits all citizens.
Prime Minister Modi's vision of transforming India into a developed nation by 2047 aligns with the current economic growth, yet skepticism remains about the equitable distribution of this growth.
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