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Institute of Professional Education and Research

The world economy is a multifaceted and unified system comprising the economic activities of individual countries and their interactions. Global economic growth will pick up the pace very soon as the entire world advances itself towards a prosperous future. Although, Developed countries play a significant role in shaping and influencing the global economy due to their advanced infrastructure, technology, and high levels of productivity, synchronously, developing countries too, have a substantial impact on the development of the world economy. Among all the major economies the designation of India, which is currently the world’s fifth-largest economy, to grow at 6.4%, is standing ahead. The country’s large and diverse population, a burgeoning middle class, and a growing digital economy have positioned it as a key player in the global economic landscape. India has a younger and often more abundant labour force. This demographic advantage can contribute to increased productivity and economic output. Additionally, as the country improves education and skill altitudes, it is becoming more attractive to international businesses seeking cost-effective labour.

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