NEW DELHI: When Ramesh Chandra Biswal left his job as a space scientist in the US, he returned to eastern India and ran an agriculture startup on a promise of his country’s rapid economic growth.
Nine years on, as India positions itself as the world’s fourth largest economy, he is still waiting for the promise to come true.
India’s economy was the sixth largest in the world, valued at about $2.6 trillion in 2017, when Biswal launched his Villamart project in his home village in Odisha.
According to calculations in the Indian government’s end-of-year economic review, it has now grown to $4.19 trillion, overtaking Japan’s economy in terms of nominal Gross Domestic Product.
The review also projects that India will overtake Germany to become the world’s third-largest economy within the next three years, trailing only the US and China in economic weight.
