Is India’s economy crashing?

In the recent news we hear and see that the Indian economy is crashing because of all industries are slipping downward. Such as car manufacturers, TV broad band, airline, real estate, and the bank who gives loan to the small scale industries. And if we look onto the IT sectors they are also struggling. If we look into the newspaper headlines we can see that the GDP is decreasing, employment rate, and the Forex is also going downwards.

 As per writers /columnist they have been picked up the reason for down-slides as the corruption from businessmen, Modi governments unwanted alteration like GST, demonetization, unfair taxes on Indian business etc. were created a way for the downslide in Indian economy.

After all these thing we have to analyze is there any interconnectedness to this downward slope. The interconnectedness in the sense means the sale of car manufacturers and their supporting industries were came to fall because of any connection with the lack of parking space and excessively jam roads in the cities are the reason for the people in a well group not to buy the cars. On other hand we can think like this is the boom for the jobs and demands in the service sector will going to happen. Technology has the capability to increase the demand and scope for the downward going industries. In an earlier era, we see that the cotton textile created a good impact by the introduction of power loom at US textile unit in 1814, Henry ford assembly line in 1913 initiated rapid growth in motor vehicle industries etc.

And to make a change in this situation we need to look on the innovation part of India. In capitalist countries the initiatives were happen in state drive initiatives and the media was often displays the individual entrepreneurs as the hero.

The main issue with this does India have enough time to make a change in industrial policy that will leads to completely state-driven on the one hand. From this we can say that rapid technological change is the reality and the government adopt and encourages the new technology in business. And there is no hope for interest rates, inflation targets, and subsidies will be going to help to overcome this situation.