India with its continuous and steady growth, is expected to have GDP growth rate of 6.5% for the fiscal year of 2023 – 24, trends of growth for next five years is expected to fall between 6% to 7% as per reports published by various international credit rating agencies, however by focusing more on investments the results may further improve the GDP growth rate.
Construction sector forms second largest sector after Agriculture sector in the Indian Economy, which contributes approximately 10% of India’s GDP, carries tremendous scope of growth due to its huge young population and rapid urbanization trends resulting increased infrastructural and Property demands.
Also, MAKE IN INDIA policy adopted by Government of India is attracting foreign investment in Defence, technologies, commodities, Automobiles etc… is boosting industrial growth which in turns increase the requirement of civil infrastructure and creating thousands of employment opportunities helping to strengthen and expansion of Indian economy.
Therefore, Future of Indian economy is promising not only for next five years but also for upcoming decades and the Real Estate Developers across the world can Invest in India with confidence of promising returns and have the increased Capital Gains.
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“The Indian economy continues to show strong resilience to external shocks,” said Auguste Tano Kouame, World Bank’s Country Director in India.