Entrepreneurs Should Invest in These Areas

As time passes by, India has turned into the third fastest growing economies globally. Owing to which, the country has caught investors’ interest led by economic reforms as well as an ignoramus amount of consumers. According to the IBEF, India’s real gross domestic product (GDP) at current prices stood at INR 195.86 lakh crore ($ 2.71 trillion) in FY21, as per the second advance estimates (SAE) for 2020-21. Simultaneously, the per capita income at current prices was estimated at INR 127,768 ($ 1,765.43) in FY21.

Business investments are primarily made into the country due to resulting factors that are, irrigation, finance, communication, transport, health, education and energy. On the other hand, a report by CEIC states that India investment accounted for 34.3 per cent of its nominal GDP in March 2021, compared with a ratio of 29.6 per cent in the previous quarter. The country’s investment share of nominal GDP data is updated quarterly, available from June 2004 to March  2021, with an average ratio of 34.0 per cent. 

The data reached an all-time high of 41.2 per cent in September 2011 and a record low of 21.6 per cent in June 2020. CEIC calculates Investment as per cent of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. Gross Capital Formation is calculated as the sum of gross fixed capital formation, changes in stocks and valuables. Central statistics office provides nominal gross capital formation in local currency and nominal GDP in local currency, based on SNA 2008 at 2011-2012 prices. Investment as per cent of Nominal GDP prior to Q2 2011 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.

IT Sector

Technology has evolved things across the world. With the emergence of the pandemic, technology has been greatly adopted by the entrepreneurs; it comprises of all its capabilities and features. Various activities have been completely changed to an online mode, thus, doig things easier. In the post-pandemic period as well, technology will continue to stay a vital part of everyone’s life in several forms such as smartphones, tablets and the internet. 

Other new technologies that have emerged now are artificial intelligence (AI), cloud-based computing, and machine learning (ML) that will increase growth and create a bright future. The presence of technology has reckoned development in various fields, thus, becoming a core of every sector in today’s time. Therefore, business investment in this sector should be done by the entrepreneurs.