INDIAN ECONOMIC GROWTH TRAJECTORY AND ITS POTENTIAL IN THE FUTURE
DOI:
https://doi.org/10.29121/granthaalayah.v13.i12.2025.6542Keywords:
Protective Trade, Economic Reforms, Sectoral Contribution and PotentialityAbstract [English]
The Indian economy was stagnant during the time of independence. The country adopted a protective trade and import-substitution policy till the introduction of economic reforms. The growth rate was constrained to around 3.5 per cent per annum, but after economic liberalisation, it increased. The agricultural sector contributed the highest share to the country's GDP for around three decades after independence. However, since then, the service sector has become dominant as far as its contribution to GDP is concerned. Its GDP has a huge probability to surpass other big economies as it has enormous potential to maintain its growth rate. This paper analyses the trajectory of GDP growth, sectoral contribution and potentiality by using time series data from the RBI and the World Bank.
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