Journal of Hotel and Business Management
Open Access
ISSN: 2169-0286
ISSN: 2169-0286
Basavarajaiah DM*, Narasimhamurthy B
India is one of the leading countries for economic growth worldwide and external trade recovered strongly in 2021-2022 after the post-COVID-19 pandemic. According to the ministry of economy and finance 2021 annual report, there has been a strong augmentation in capital flow into India, leading to the rapid accumulation of FOREX reserves as compared with Asian countries. It is the fourth-largest forex reserve holder in the world as of December 2022. India’s merchandise exports and imports rebounded strongly and were suppressed during the COVID-19 pandemic due to the financial burden, low parity of purchasing power, unemployment, production decline in manufacturing companies, higher debt, improper management of the service sector, etc. Despite the control measures of SARS-CoV-2, financial movement decreased at a marginal rate of 50-60%. According to RBI statistics, foreign exchange reserves hovered at US$63.10 billion in the first half of last year, despite a low GDP rate compared with China. In this paradigm, appropriate measures are necessary to control financial inflation. As such, practical innovation is necessary for guiding financial experts and policymakers in the implementation of newer policies and accurate measures of GDP and forex reserves to build a financially empowered country. With an overall pragmatic research gap, the present study will attempt to address the trend of forex and GDP by applying advanced statistical modelling techniques and revisiting financial principles to cope with real data sets for predicting economic feasibility by 2030. This study will help economists and financial analysts initiate operational research on an empirical basis and also greatly assist in drafting financial policy at the national and global level.
Published Date: 2025-01-22; Received Date: 2024-07-30