India’s Economy in 2024: A Leap Forward Amidst Global Uncertainty


In 2014, India embarked on a journey of economic transformation. 
With the promise of ‘Acche Din’ (good days), the government set forth on a path to revitalize the economy.In the early years, initiatives like ‘Make in India’ and GST implementation aimed to simplify the business environment and integrate the economy.

As the India growth narrative unfolded, India’s GDP saw highs and lows, reflecting the global economic climate and domestic policy impacts. 

The demonetization saga of 2016 and the GST rollout were significant plot twists, causing temporary disruptions but promising long-term benefits.The mid-chapter of our story saw India grappling with job creation and export stagnation. Yet, the spirit of entrepreneurship and innovation kept the plot moving forward, with startups and digital revolutions adding new dimensions to the economy.

The climax arrived with the pandemic in 2020, testing the resilience of India’s economic fabric. But the nation’s story was one of perseverance and recovery, as it bounced back with a focus on self-reliance and digital empowerment.

As we approached the end of this decade-long saga in 2023, India emerged as a $3.75 trillion economy, reflecting the cumulative efforts and aspirations of its people. The stage was set for the next chapter, where April 2024 marked a new beginning…..

How we fared in April 2024:

  • GST collections hit a new peak with ₹2.10 lakh crore, showing a significant growth of 12.4% compared to the previous year.
  • Consumer Price Index (CPI) inflation eased to 4.83%, with notable reductions in several key categories.
  • Unemployment rates at 8.1%, with both urban and rural areas experiencing an uptick.
  • The Manufacturing Purchasing Managers’ Index (PMI) stood strong at 58.8, despite a marginal drop from the prior month.
  • India’s Gross Domestic Product (GDP) growth accelerated to 8.4%, fueled by robust performance in manufacturing, mining, and construction sectors.

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