If the exit polls for the 2024 General Elections are correct, Prime Minister Narendra Modi is likely to secure a third consecutive term. As India’s economy and markets move forward, many people are now wondering what this means for the future.
In an interview with Business Today, Mohit Batra, Founder & CEO of MarketsMojo, emphasized the importance of sustained efforts to achieve accelerated growth and reach India’s goal of becoming a $10 trillion economy in the next decade. He warned against complacency and stressed the need for an unwavering focus on reforms to achieve unprecedented economic heights.
Batra believes that if the Modi government secures a third term, several key areas may be prioritized. This includes enhancing farmers’ incomes through improved cold storage facilities and food processing infrastructure in the agriculture sector, as well as focusing on API manufacturing in the pharmaceutical industry to establish India as a global pharmacy leader.
Additionally, investments in railways and defense sectors to position India as an exporter, development of tourism infrastructure to boost domestic and international tourism, and investments in infrastructure to support the China plus one strategy and reduce logistics costs are also expected. The government may also address unemployment by pushing for growth in the manufacturing sector.
Batra acknowledged that significant reforms have already been undertaken by the Modi government over the past decade, transforming India from part of the fragile five to the fastest-growing economy in the world. This progress has elevated global respect for India and its citizens, emphasizing the importance of continuing these reforms in the years to come.
Overall, if Narendra Modi returns for another term as Prime Minister of India, it is clear that there will be much work left to do
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