The India Finance Ministry has projected growth to jump from 7.5 percent over its previously projected 7.2 percent for the 2019-2020. India has been quietly pushing industry ahead with its partnerships and its economic reforms in the early 90s according to its Finance Minister. Forbes lists India as the fastest growing economy in the world at present.
Among its strategic moves, it has began a number of financial partnerships, taking a page from China, the worlds new economic behemoth. India forged economic partnerships with Japan, Bhutan, Chile, Korea and regional agreements with Africa and Southeast Asia.
Precious gems/metals, minerals, heavy machinery (including computers), vehicles, organic chemicals and pharmaceuticals are among India’s top exports comprising a total of $295.8 billion USD in 2017 alone. India, like China and other competitive states have focused on providing the world with relevant, cutting edge products and service that meet the world’s changing needs. In other words, India is providing the tools and products that the world needs to develop, grow and maintain their populations. As the new producer, it seems it will likely edge out richer states like the U.S. and Great Britain in supplying those tools.
According to the India Brand Equity Foundation (IBEF), the nation has made a shift in its overseas investments in the last ten years, focusing its overseas investment destinations to locals which provide higher tax benefits. India is another example of how states around the world are increasingly becoming hyper-sophisticated in their economic and international strategies.