Page 9 - Bullion World Volume 3 Issue 1 2023

Bullion World | Volume 3 | Issue 1 | January 2023

diverse demographic. The average age of the Indian workforce is expected
to be 32 years by 2030, giving us a broad window for skilled people The global slowdown
resources to power this growth in the long term. and its impact on
exports are likely
On the other hand, the key risks to our growth stem from ongoing external to keep the current
factors like the frequent rate hikes by the US Federal Reserve. The account deficit intact.
consequence, as already being seen, is increased pressure on the Rupee, The government will
reduced inflow of capital and FDI, and a rise in imported commodities. need to intervene with
its policies to attract
foreign investors and
associated capital
inflow that has reached
record lows due to
the strain on global
economies.

Right from the bustling EV industry
to renewable energy and agritech,
startups are popping up in various
aspects of the value chain, from
manufacturing to logistics and
financial management. Not only is
this giving a boost to the economy
III. Sectoral performance and diversifying opportunities, but
Manufacturing supplies, exports, and the services industry have been the it is also invariably investing in the
strongest hit due to the high dependence on the US dollar and its constant sustainable development of the
rise against the Rupee. This is expected to continue in H1 ‘23. However, and nation in the long haul. The EV
hearteningly so, India continues to remain an attractive consumer market for market, in particular, is expected to
global corporations. Moreover, in their pursuit of a China+1 policy, leading become US$2 Bn by 2023 and rise
enterprises are diversifying businesses to other countries, with India being a over threefold by 2025. The scope of
preferred beneficiary. renewable energy is immense, too,
with a current installed capacity of
With the pledging of global and domestic net-zero (2070) goals, Greenomics 160 GW planned to reach 1,000+
has come into the foray as a sector wherein mercurial growth is projected. GW over the next few years.

Specialty chemicals are another
sector wherein a surge is
anticipated. The sub-sector
contributes 22% to India's total
chemicals market, which translates
to the 6th largest sales globally.
The sector is expected to grow at a
CAGR of over 12% YoY for the next
4 years.

The Ministry of Defence (MOD) has
given a strong impetus to Make
in India defense contractors and
declared a target of US$2 Tn for

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