India to Become Third Largest Economy by 2025

India is anticipated to dethrone the U.K. to become the world's fifth largest economy this year, and will surpass Japan to be the third largest in 2025, according to the IHS Market report. The Finance Ministry has published an economic roadmap to 2025 in its latest annual Economic Survey. They cited the key goal as to transform India from a $3 trillion economy in 2019 to a $5 trillion economy by 2025. The exemplary factors of investment, savings and exports will play a major role in order to sustain rapid economic growth over the next five years.
•Role of Investment
Investment serves as a catalyst for innovation, rapid productivity growth and new technology, thus accelerating job growth. Foundation of a favorable environment for private investment is vital.

•Rapid Infrastructure Development
Infrastructure development in sectors such as transport and power should receive utmost priority. Reduction the regulatory burden of government red tape is also a necessary step towards economic growth.
•Reforms in the Legal System
India was ranked 77 out of 190 countries that are included on the World Bank's Ease of Doing Business Index for 2019.Modification in legal strategies and paperwork pattern in order to ease the business formalities will shift up India’s rank in the future.
•Population Growth Aspects
The skyrocketing in India’s population is complemented with fiscal challenges for the government. These problems include construction of tangible facilities like sanitation, affordable housing and pocket friendly public transport.
•Friendly Labour Laws
India still lags behind other large emerging markets like Turkey, China and Mexico to name a few. Changing labour market law to remove restrictive labour regulation is highlighted as a priority in the Economic Survey.

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