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IBEF on Indian Economy

Indian Brand Equity Foundation expects the Indian economy to be one of the top three economic powers of the world over the next 10-15 years, backed by its strong democracy and partnerships. Market Size: India’s nominal GDP growth rate is estimated at 12 percent in 2019-20. The estimate for 2018-19 was 11.5 per cent. During Q2 of 2019-20, GDP (at constant 2011-12 prices), GDP stood at Rs 33.16 lakh crore (US$ 474.46 billion) showing a growth rate of 4.3 percent over the corresponding quarter of the previous year. India has retained its position as the third-largest startup base in the world with over 8,900-9,300 startups, with about 1,300 new start-ups being founded in 2019, according to a report by NASSCOM. India also witnessed the addition of 7 unicorns in 2019 till August, taking the total tally up to 24. India's labor force is expected to touch 160-170 million by 2020, based on the rate of population growth, increased labor force participation, and higher education enro
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