Welcome to the forefront of transformative industrial construction in India, where we proudly declare ourselves as the nation’s trusted development partner. At ARWADE we don’t just build structures; we forge pathways to progress. As the heartbeat of India’s industrial evolution, we stand shoulder-to-shoulder with the visionaries, the innovators, and the dreamers, crafting spaces that redefine the landscape.
Our commitment goes beyond bricks and mortar; it’s a commitment to the very fabric of India’s growth story. With every beam we lay and every foundation we strengthen, we contribute to the tapestry of progress that is shaping the nation’s future. At ARWADE we are not just constructing buildings; we are building the pillars of India’s industrial prowess.
As India’s development partner, we take pride in being the architects of a brighter, more robust tomorrow. Welcome to ARWADE where we build more than structures; we build the future of India.
As if the moon was not enough, India is now aiming for the stars. After the successful launch of Chandraayan-3 on August 23, 2023, India has now set its sights on the sun by launching Aditya-L1, a spacecraft designed to study the solar atmosphere. Only a handful of countries have achieved this historic feat.
And it is not just in science where India is taking big leaps. The Indian economy, according to IMF estimates, will emerge as the world’s third largest economy by 2027, hopping over Japan and Germany, as its GDP crosses US$5 trillion dollars. By 2047, India aspires to be a developed economy.
According to our estimates, India will need at least 6.5% growth to reach its first milestone in 2027 and about 8%–9% growth to reach the second in 2047. The buoyancy in the economy instils confidence that the country, at least in the short run, will likely achieve these numbers. The pace in the first few years will be critical for a sustained, fast-growth trajectory in the long run.
In light of the Q1 GDP growth, we have revised our growth estimate for this year to reflect it. We expect GDP to grow in the range of 6.5% to 6.8% primarily due to festive spending in the coming months followed by higher government spending before the upcoming national elections mid-next year. We believe GDP growth will be over 6.5% next year as geopolitical uncertainties subside, and the global economy bounces back on a stronger growth path.
Navigating geopolitical uncertainties and the slowdown in the global economy, undoubtedly, will not be easy. India will have to rely on its own domestic demand to firepower its growth, specifically, private consumption and investment spending. What works in India’s favour on the private consumption front is the size of its consumer base, the rising income, and the aspirations of its young population, which is the largest in the world. As for investments, with the size and scale of operations it has to offer to global companies, the availability of skill and talent, and technology and innovation capabilities, India continues to be an attractive investment destination.
The spotlight, in this outlook, is on India’s micro, small, or medium enterprises (MSMEs). These, we believe, will be key in generating income, capabilities, capacities, and ecosystems needed for sustained growth in consumption and investment that is broad-based and comes from all sections of the economy. The MSME sector will also drive innovation and new opportunities in a cost-effective manner. It will drive job creation and entrepreneurship, especially for women in rural India. In short, the sector will help India reap the potential benefits of its demographic dividend and the expansion of the middle-income class.
The good news is that the past two quarters have seen an uptick in the MSME sector. Out of the shadow of the pandemic, the steady revival of this sector will likely help India achieve broad-based growth at the grassroots levels, which is needed to ensure sustained economic activity.
We continue to remain optimistic about the economy this year and expect India to grow between 6.5% and 6.8% between FY23 and FY24 in our baseline scenario, followed by an average of 6.65% and 7.95% over the next two years as the global economy turns buoyant.
India will be a USD 4 trillion economy by the end of 2023-24 and a USD 10 trillion by 2030. India’s vision for growth and development is focused with the aim to be the 3rd largest economy. Good governance, inclusivity, diversity, sustainability, Digi-tech and innovation, manufacturing, employment generation, predictable policies, extensive industry consultations are some of the enablers which would take the country to the next level. Last month, the 10th Annual Forum of the Public Affairs Forum
First, India’s aim towards becoming the 3rd largest economy by 2030 envisages some focused growth drivers & Private sector will have a major role to play. In order to achieve the USD 10 trillion economy by 2030, India has to consistently grow at 8-9 present annually. This is possible when the per capita income increases and for that investment needs to rise. Four areas of focus should be on increasing exports, investment in urban infrastructure, focus on SMEs and corporate
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