Growth of Indian economy

The growth of Indian economy since the liberalization of the  economy in 1990s is based mainly on construction industry including government supported  roads and airports and on automobile industry. While there is still possibility of growth in construction industry,
including roads, railways, bridges etc. there is not much scope for expansion in auto industry,  as it has almost reached saturation point. Now the country has to think in terms of expansion of consumer durable industry like production of  air-conditioners, washing machines, refrigerators, dish washers, automatic cleaning machines, microwave ovens,domestic water softeners etc. For growth of this industry, the banks have to provide loans to consumers, liberally, in the same manner they had extended loans for buying automobiles including two wheelers and houses as well as purchase of house plots and construction of individual houses. The growth in this industry may last for a decade or two, by which time, there would be need for  construction of new buildings and purchase of new vehicles  for replacement.

Expansion of consumer durable industry will necessitate large scale generation of electricity. Non-conventional energy like  solar energy, wind energy, bio-mass energy, energy from waves etc should be developed which would  lead to further growth of economy

 

 

 

 

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