India’s Economic Growth and Challenges Ahead: A Closer Look at the World’s Largest Democratic Election

India is gearing up for the world’s largest democratic election, with an estimated 960 million people eligible to vote in the polls. The election, set to start on Friday, is expected to see Prime Minister Narendra Modi clinch a rare third consecutive five-year term.

Under Modi’s leadership, India has positioned itself as a 21st-century economic powerhouse, offering a real alternative to China for investors and consumer brands. The country’s economy, which was worth $3.7 trillion in 2023, has jumped four spots in the rankings during Modi’s tenure.

Despite the economic growth, challenges remain. India ranks low in GDP per person and faces high youth unemployment rates. The country’s young population, with an average age of 29 years, is not yet reaping the economic benefits it could offer.

To address these challenges, the Modi government is aggressively pursuing infrastructure development and attracting foreign investments. Major firms like Apple supplier Foxconn and Tesla are expanding their operations in India, signaling a shift in global manufacturing trends.

As India prepares for the upcoming election, the focus remains on creating jobs, improving living standards, and harnessing the potential of its youthful population. The outcome of the election will have far-reaching implications for the country’s economic future.