Several countries are facing economic slowdowns globally. This situation is also impacting global markets, including India. India is currently the world's fifth-largest economy.
According to the IMF, India is among the four trillion-dollar economies. B. V. R. Subrahmanyam, CEO of NITI Aayog, made this announcement. He highlighted India's favorable position in the global context.
Subrahmanyam anticipates significant growth for the Indian economy. He stated that India is outperforming many other nations. These include only marketing-driven economies like China and Germany. He expects India to become the world's third-largest economy within the next three years.
Various economic reforms are underway in the country. Make in India initiatives are helping India to improve its economic situation. These initiatives are also supporting the current international economic environment.
Meanwhile, Apple plans to increase iPhone production in India. This decision aligns with the market president Donald Trump is pushing for. Apple aims to manufacture more products outside of China.
Apple may face a 25% tariff on iPhones sold in America if manufactured in China. B. V. R. Subrahmanyam addressed this issue. He stated that tariffs are unpredictable and India offers a stable alternative.
Subrahmanyam mentioned that the second phase of government asset sales will commence in August. This initiative will involve transferring some government assets to the private sector. Rajiv Adani will likely be involved in this process.