India’s economy, once seen as a global bright spot, is now facing some serious headwinds. Just a year ago, the country was riding high, bouncing back from the pandemic and being hailed as the world’s fastest-growing major economy. But things have taken a turn, and the optimism is fading fast. Industrial growth is slowing, the stock market has wiped out six months of gains, and the rupee is losing value against the dollar. For a nation aiming to become a developed economy, these are troubling signs. Most consumers simply don’t earn enough to keep the economy afloat, and that’s making it harder for India to live up to its potential. Prime Minister Narendra Modi has been vocal about India’s rise, often highlighting its growing global influence. In 2022, India overtook Britain to become the world’s fifth-largest economy, and it’s expected to surpass Germany soon. But the recent slowdown has exposed some cracks in the foundation. The numbers tell the story. Last fiscal year, India’s economy grew by 8.2%, but this year’s growth is projected to drop to 6.4%. The stock market, which had been soaring, is now struggling, and the rupee’s decline is making it harder for Indian businesses to compete globally. For India’s middle class, which saw its wealth grow significantly after the pandemic, the slowdown is a tough pill to swallow. Many are left wondering what went wrong. As the country grapples with these challenges, the government will need to rethink its strategies to keep the economy on track. India’s journey to becoming a developed nation is far from over, but the road ahead just got a little bumpier. ---