My road map to 10 Trillion USD+ economy in 10 years.

[FalconSlayers]

We have reached to 4 Tr USD now faster than anybody would have ever imagined. We need 14% growth rate (market price) to reach 10 BN USD in 7 years which is about 9% GDP rate considering 5% inflation. If we are able to strengthen INR against USD, we can achieve it faster than what I have calculated. Like what Russia did, what we need to do is increase export and ask the countries to make payment in INR which will force other importing countries keep INR reserve which will create INR demand and ultimately make it strong.

We have achieved this growth rate with highly under performing electronic comp

"If this happens, we do this that, we can do this to do that" doesn't work mate. Be realistic.
$10 trillion not possible before 2034/2035.

 

[HariPrasad-1]

"If this happens, we do this that, we can do this to do that" doesn't work mate. Be realistic.
$10 trillion not possible before 2034/2035.

I have stated the reasons, possibility and working in support of claim. You can do that. XYZ is not possible before this date is a statement which has no meaning.

 

[another_armchair]

We have reached to 4 Tr USD now faster than anybody would have ever imagined. We need 14% growth rate (market price) to reach 10 BN USD in 7 years which is about 9% GDP rate considering 5% inflation. If we are able to strengthen INR against USD, we can achieve it faster than what I have calculated. Like what Russia did, what we need to do is increase export and ask the countries to make payment in INR which will force other importing countries keep INR reserve which will create INR demand and ultimately make it strong.

We have achieved this growth rate with highly under performing electronic comp

Bhai, hope you have thought over the trade off that will come with 10 billion GDP for a country like ours where income distribution is so skewed?

On one hand, we will have a GDP of 10 billion, on the other hand, we will have a ballooning deficit to keep the outliers(those who cannot keep pace with the top 2-5% of the earning population) from falling off the consumption matrix.

High GDP should not be looked at as attaining nirvana.

 

[HariPrasad-1]

Bhai, hope you have thought over the trade off that will come with 10 billion GDP for a country like ours where income distribution is so skewed?

On one hand, we will have a GDP of 10 billion, on the other hand, we will have a ballooning deficit to keep the outliers(those who cannot keep pace with the top 2-5% of the earning population) from falling off the consumption matrix.

High GDP should not be looked at as attaining nirvana.

This seems to be a typical commie argument. We have lifted more than 250 million people out of poverty in last couple of decades. We are running medical schemes and housing schemes for poor people which is mind boggling and something of scale one would not have ever imagined. This has become possible because of economic progress happened because of economic reforms and a huge tax collection happened because of that. Ranting those stereo types of unequal wealth distribution does not make any sense. Only one ideology stressed on that which is communism. It has failed measurably or bought equality by making everybody poor. 2.5 time economy means atleast 2.5 time increase in tax revenue with government to spend on Infrastructure, education and poverty elimination.

 

[HariPrasad-1]

India has surpassed all predictions, and study stating India's GDP growth around 6%. For last many quarters, India's GDP growth rate has proved everybody wrong. GDP growth rate 7.5 % in real terms mean around 12% at market price. It our currency strengthens, goal of 10 BN USD is very much achievable. There are many favorable conditions of Indian currency becoming a Global reserve currency in next couple of years. When we will be able to generate more electricity with solar and atleast half of our vehicles becomes EV, we will be a economic super power. As I discussed earlier, we need to take many small steps to become economic super power. We should target to minimize import and maximize Export.

My priority list is:

1) Food Security, water conservation and soil conservation.
2) Skill development.
3) Alternate fuel, Bio Fuel and solar power.
4) Forestation and Bamboo based economy for cheap housing.
5) Huge Investment in aviation sectors.
6) Value based education on traditional Indian methods with stress on Science, Maths, Ayurveda and yoga. We need to be a hub of Medicine and tradition treatment like what Swamy Ramdev has done.

Above is an Indicative list not an exhaustive list.

 

[HariPrasad-1]

ndia’s overall exports in September 2023 estimated at USD 63.84 Billion; Merchandise exports at USD 34.47 Billion in September 2023


Trade Deficit projected to improve by 47% during April-September 2023 at USD 39.91 Billion; Merchandise trade deficit also improves from USD 140.83 Billion during April-September 2022 to USD 115.58 Billion in April-September 2023

Non-petroleum and non-Gems & Jewellry exports register an increase by 1.86% from USD 24.33 Billion in September 2022 to USD 24.78 Billion in September 2023

Engineering Goods exports record a growth of 6.8% from USD 8.34 Billion in September 2022 to USD 8.91 Billion in September 2023

Exports of Marine Products register an increase by 4.7% to USD 0.75 Billion in September 2023 as compared to USD 0.72 Billion in September 2022

Electronic Goods exports register a growth of 27.6% at USD 13.11 Billion during April-September 2023 as compared to USD 10.27 Billion in April-September 2022

Ceramic products & glassware exports grow by 50.5% from USD 0.24 Billion in September 2022 to USD 0.36 Billion in September 2023

Drugs and pharma exports continue to grow at 9.0% in September 2023 at USD 2.39 Billion from USD 2.19 Billion in September 2022

Iron Ore export record a growth of 128% during April-September 2023 at USD 1.5 Billion from USD 0.66 Billion in April-September 2022

Agricultural exports continue to grow during April -September 2023: Spices (1.35%), Fruits & Vegetables (10.67%), Cereal preparations & miscellaneous processed items (1.89%), Oil Meals (41.16%), Tobacco (7.6%), Oil seeds (23.47%), Coffee (3.43%), Cashew (0.31%)

https://pib.gov.in/PressReleasePage.aspx?PRID=1967357#:~:text=India's%20trade%20deficit%20has%20shown,decline%20of%20(%2D)%2047.03%20percent

.

India's trade deficit is on decline. There has been a considerable improvement in first two quarters and trade deficit is been reduced to half. By next year or one year after that, our trade deficit should be vanish and we should become a trade surplus state. We have entered into a new era where we are all set to produce electronics in big way and our export of many thing such as Mobile, Weapons, train set are increasing. As I said earlier, if we enter into plane manufacturing in big way, and move towards EVs and produce power by Solar and wind, our economy will take a big upward swing in terms of cheap factor of production. Our government is now doing very good on economic front and has implemented so many things I had recommended earlier.

 

[karn]

ndia’s overall exports in September 2023 estimated at USD 63.84 Billion; Merchandise exports at USD 34.47 Billion in September 2023


Trade Deficit projected to improve by 47% during April-September 2023 at USD 39.91 Billion; Merchandise trade deficit also improves from USD 140.83 Billion during April-September 2022 to USD 115.58 Billion in April-September 2023

Non-petroleum and non-Gems & Jewellry exports register an increase by 1.86% from USD 24.33 Billion in September 2022 to USD 24.78 Billion in September 2023

Engineering Goods exports record a growth of 6.8% from USD 8.34 Billion in September 2022 to USD 8.91 Billion in September 2023

Exports of Marine Products register an increase by 4.7% to USD 0.75 Billion in September 2023 as compared to USD 0.72 Billion in September 2022

Electronic Goods exports register a growth of 27.6% at USD 13.11 Billion during April-September 2023 as compared to USD 10.27 Billion in April-September 2022

Ceramic products & glassware exports grow by 50.5% from USD 0.24 Billion in September 2022 to USD 0.36 Billion in September 2023

Drugs and pharma exports continue to grow at 9.0% in September 2023 at USD 2.39 Billion from USD 2.19 Billion in September 2022

Iron Ore export record a growth of 128% during April-September 2023 at USD 1.5 Billion from USD 0.66 Billion in April-September 2022

Agricultural exports continue to grow during April -September 2023: Spices (1.35%), Fruits & Vegetables (10.67%), Cereal preparations & miscellaneous processed items (1.89%), Oil Meals (41.16%), Tobacco (7.6%), Oil seeds (23.47%), Coffee (3.43%), Cashew (0.31%)

https://pib.gov.in/PressReleasePage.aspx?PRID=1967357#:~:text=India's%20trade%20deficit%20has%20shown,decline%20of%20(%2D)%2047.03%20percent

.

India's trade deficit is on decline. There has been a considerable improvement in first two quarters and trade deficit is been reduced to half. By next year or one year after that, our trade deficit should be vanish and we should become a trade surplus state. We have entered into a new era where we are all set to produce electronics in big way and our export of many thing such as Mobile, Weapons, train set are increasing. As I said earlier, if we enter into plane manufacturing in big way, and move towards EVs and produce power by Solar and wind, our economy will take a big upward swing in terms of cheap factor of production. Our government is now doing very good on economic front and has implemented so many things I had recommended earlier.

Won't become a trade surplus state in just a year .. exports will have to continue growing at the same rate for 4-5 year and imports need to remain stagnant and no oil shock happens ... Road to trade surplus is not so easy.

 

[HariPrasad-1]

Won't become a trade surplus state in just a year .. exports will have to continue growing at the same rate for 4-5 year and imports need to remain stagnant and no oil shock happens ... Road to trade surplus is not so easy.

We have reduced Trade Deficit to half and we can eliminate it in next 2 years. Earlier SBI had predicted that India will be a trade surplus state in 2021 but It did not happen.