India is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
After the 2008 crisis, the Indian economy slowed in 2017, due to shocks of "demonetization" in 2016 and the introduction of Goods and Services Tax in 2017 Nearly 60% of India's GDP is driven by domestic private consumption and continues to remain the world's sixth-largest consumer market.
But COVID 19 gives a big twist in the Indian economy. Is COVID 19 is the only reason for this economic crises'''The answer is "NO'''COVID 19 is a just a trigger in the economy of the world.already worlds economy is constantly damaged by the trade war between America and China, an oil price war between Saudi Arabia and Russia, auto sector slow down in India. These factors and COVID 19 take away the wealth around the world IT, pharma, bank all the small and mid-cap industries are in the bullish market. More then half of the American jobs are at the risk, More Indian tourism and hospitality industry is staring at a potential job loss of around 3.8 crore, which is around 70% of the total workforce.
At the same time COVID 19 creating new openings in India..
The concealed answer is "Yes".In the world's economic race, china is the active participant in the race. Chinese investors are more interested in FDI(Foreign direct investment).
At first, what is FDI ..?
If an investor interested to buy a share in a foreign company he can buy a share through FDI.all developing countries, Australia US and India. They are the deciders of the poor country's economy. From the southern port of Hambantota Srilanka, German robot maker Kuka's CEO replacement, the world's fastest-growing economy chinas the institution was well clear to the world. Now all the European and Asian countries realized, Apart from COVID 19 there is also a big disaster on its away that's Chinese FDI. Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers in china to shift production out of China. US President Donald Trump also Threatens China as a phase-one trade deal Crumbles now all the European and other developed countries looking for the largest Asian manufacturing hub apart from china. The answer in everyone's mind is India. Another threatening issue for china is, India is the country having its lowest corporate tax in Asian competitors. India’s statutory rate for corporate tax is 22 percent now, down from 30 percent. About 1,000 foreign firms are planning to shift manufacturing to India, At least 300 of these companies are actively pursuing the production plans in mobiles, electronics, medical devices, synthetic fabric, and textile industries. This will lift the Indian economy from the market and also decreases the unemployment rate, and it may give a fast u shape recovery like, are urging and changing their FDI policies. The reason for this urgency is when one country holding huge shares in another poor country..
India is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
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