Why India Needs Modi? If India’s Productivity Keeps Growing At 6%, It Will Catch Up With Developed Nations: Report
India’s economy is in the “fast lane” and if productivity growth as well as living standards continue to be around 6 per cent level each year, it will soon catch up with developed nations. According to the latest report released by McKinsey Global Institute, the 6 per cent growth has helped India uplift more than one billion people out of poverty over the past 25 years.
India and China were responsible for nearly half the productivity gains witnessed between 1997 and 2022, which helped them lift nearly a billion people out of poverty, the report said.
- 25 Apr 2024
- WerIndia
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