Study of Role of Indian Rural Economy in Future Development and Growth of Indian Economy

Abstract

India has a vast potential of opportunities that lies in the rural markets which have not been explored to its full potential so far. As the global economic system is characterized by increased protectionism and trade wars, it is imperative to harness the potential of the rural economy of India for the industry to grow in the coming times. Indias rural economy has a huge footprint as it provides employment to about 53% of the workforce and supports 66% of the population residing in rural areas. In this regard, it is expected that the rural population will drive the growth rate of GDP in the coming times and help the Indian economy to become a US$ 5 trillion economy by 2025. This paper aimed to understand and analyse the role of Indian rural economy towards Indias Dream of $5 trillion economy.