In early 2015, when the Modi government announced that the GDP of India (GDP) in the next ten years remained at a level of growth of 9%-10%, "Economics" tried to use a "tie the flying engine, but it was"Elephant" pictures on the ground expressed doubts about the policy.

At the end of 2016, when the report released by the Forbes magazine showed that the total amount of GDP in India had exceeded Britain, the Indian media announced in a proud tone: "This is the first time in 150 years, the Indian economy surpassed the British princes during the colonial period."

Indian GDP ranking fifth in the world

According to the Indian Times reported on December 20, Kiren Rijiju, Minister of the Indian Ministry of the Interior, published a tweet on his personal Twitter that India has surpassed the United Kingdom and became the United States, India, Japan, and Germany., GDP ranked 5th in the world.Keron said that although India's population base is large, this is still a huge progress.

Earlier, the British Think Tank Economic and Commercial Center (CEBR) released data in December 2011 that India's GDP will not surpass Britain until 2020.

"Thanks to the rapid growth of the Indian economy over the past 25 years and the depreciation of the pound in the past 12 months, the moment of this milestone has come early." The Indian Times said that this data will be by 2020, It will continue to expand.

Since taking office in May 2014 in May 2014, the Modi government launched a series of eye -catching political and economic projects, including "Made in India", "Clean India", "Digital India" and other policies, and vowed to improve the business environment and attract foreign capitalEssenceIn addition, Modi visited the United States, Japan, Australia, India, Africa and other places with frequent diplomacy, seeking economic and trade cooperation, promoting investment agreements, and vigorously promoting India among the heads of state in various countries. This series of measures have also been given "The exclusive title of Modi Economics.

Just this month, Sunil Barnwal, the chief minister of the Government of Jiakkandbon, India's inland province, led a group to visit Meng buy.Foreign capital mining of mineral resources. Under certain conditions, it will also provide subsidies for 5,000 rupees per person per month for factory workers who come to the state to produce textiles in the state.More than half of the monthly salary of Indian textile workers.

In the past six months, at least one Indian delegation has come to the India's Yangtze River Delta region every month for investment investment roadshow.

Lack of confidence in printing investment

However, investors generally lack confidence in India's lengthy administrative procedures, legal risks and corruption issues.

"India's planning is too optimistic, its market openness is poor, the quality of labor is not high, the infrastructure is backward, and the failure to integrate into the global production networkBangalore Wealth Management. It is not easy to achieve such fast economic growth." Xiamen University's international relationsWang Qin, deputy dean of the college, told Peng Mei News.

"Economist" believes that if India wants to become a leader in the global economy, "it is necessary to solve the problem leftover of policies that are not conducive to productivity development."

In fact, Modi has led the People's Party to conduct a series of reforms: relaxing foreign direct investment restrictions, conducting tax reform, re -revising laws and regulations for labor and land acquisition, and vigorously developing manufacturing and railway and smart cities.At the beginning of last year, Modi also announced the cancellation of a 65 -year -old planning committee to establish a new institution -the National Reform India Society (NITI).

However, the Modi government announced the "waste banknote policy" announced in November this year, but once again made the outside world the pessimistic of the economic development of this South Asian country.Pune Investment

On the 8th of last month, Modi announced in a national television speech that in order to combat corruption and black money transactions, the 500 rupees and 1,000 rupees of old version of the high -faced currency currently circulated on the market.This means that 86%of banknotes in India will no longer be a legal currency.

This policy not only attracted the complaints and criticisms of the underlying personnel, but some former Indian senior and economic analysts were also attacking Modi's "waste banknote" measures.

On November 24, former Indian Prime Minister Manmoham Singh said that this was a "organized and legal robbery".Singh said that Modi's policy is a "milestone error", which will erase India's economic growth rate at least 2 percentage points."Policies that have executed will make people lose confidence in currency and financial systems ..."

India's "Boundary Capital" predicts that India's GDP in fiscal 2016 to 2017 may fall by 4.1 percentage points.Fitch rating also adjusted the rating of the Indian financial industry in 2017 to negative, and believed that the "waste banknote movement" hindered the normal operation of economic activities.

However, such predictions may be too early.When calculating GDP data, the Indian Central Statistics Bureau switched the benchmark year from 2004-2005 to 2011-2012. As a result, the growth rate of GDP in 2013-2014 was greatly repaired from 4.7%to 6.9%.According to the Indian government's economic goals set in February 2015, India's GDP growth rate should be maintained at a level of growth of 9%-10%in the next ten years.

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