India is on track to become the world’s third-largest economy by 2027, surpassing Japan and Germany, with a GDP of over $5 trillion, according to the finance ministry and the Reserve Bank of India. The country’s economic growth is driven by various factors, such as demographic dividend, institutional reforms, infrastructure development, digital transformation, and financial inclusion. India’s chief economic advisor, V Anantha Nageswaran, said the government’s goal is to become a developed country by 2047, with an inclusive and empowering growth for all citizens12.

India has achieved a consistent GDP growth rate of 7% or above in the last decade, despite the challenges posed by the COVID-19 pandemic and the global slowdown. The country has also emerged as the fifth largest equity market in the world, with a market cap of $4.5 trillion, and is expected to reach $10 trillion by 20303. India’s weight in global indices is still low at 1.6%, indicating a potential for further upside. India’s domestic demand, especially in private consumption and investment, has been robust, supported by the government’s measures such as direct benefit transfer, GST, bankruptcy reforms, RERA, and physical and digital infrastructure4.

India’s export outlook is also positive, as the country has become more competitive in the global market, thanks to its low-cost products, high-quality services, and innovation. India’s exports in February 2024 are set to reach the highest level in two years, driven by strong demand from Asian buyers, especially China, Bangladesh, and Vietnam5. India’s trade deficit has also narrowed, as the country has reduced its dependence on oil imports and increased its domestic production of renewable energy. India’s current account surplus in 2023/24 was the highest in 17 years, at 1.1% of GDP.

India’s financial sector has also witnessed significant development and innovation, with the growth of fintech, bank tech, and digital payments. India has become a global leader in digital transactions, with over 2 billion UPI transactions in January 2024, up from 1.3 billion in January 2023. India’s financial inclusion has also improved, with over 400 million Jan Dhan accounts, over 300 million Aadhaar-linked bank accounts, and over 200 million RuPay cards issued. With the expansion of NBFCs, MFIs, and P2P lending platforms, India’s credit growth has also picked up. India’s banking sector has also become more resilient, with the improvement in asset quality, capital adequacy, and governance.

India’s economic prospects are bright, as the country continues to pursue reforms and policies that enhance its productivity, competitiveness, and sustainability. India’s vision is to become a $30 trillion economy by 2047, with a per capita income of $20,000, and a human development index of 0.8. India’s growth story is not only about numbers but also about the well-being and empowerment of its 1.4 billion people. India is poised to become a global force for good, as it contributes to the world’s peace, security, and prosperity.

Alternative investment options are those that differ from traditional ones like stocks, bonds, mutual funds, etc. They offer higher returns, diversification, and lower correlation with the market. Some of the best alternative investment options in 2024 for Indians are:

• Alternative Investment Funds (AIFs): These are pooled-in investment vehicles that invest in alternative asset classes like venture capital, private equity, hedge funds, infrastructure funds, etc. They have a minimum ticket size of Rs. 1 crore and are regulated by SEBI1.
• Cryptocurrencies: These are digital currencies that use cryptography to secure transactions and control the creation of new units. They are decentralized, transparent, and immune to inflation. Some of the popular cryptocurrencies are Bitcoin, Ethereum, Ripple, etc. They can be bought and sold on various platforms like WazirX, CoinDCX, Zebpay, etc2.
• Peer-to-Peer Lending (P2P): This is a form of online lending where individuals lend and borrow money directly from each other, without any intermediaries. The lenders can earn higher interest rates than traditional deposits, while the borrowers can get loans at lower rates than banks. Some of the leading P2P platforms in India are Faircent, LendenClub, RupeeCircle, etc3.
• Commercial Real Estate: This is a type of real estate that is used for business purposes, such as office spaces, retail shops, warehouses, etc. It offers rental income, capital appreciation, and tax benefits. It can be invested in directly or through Real Estate Investment Trusts (REITs), which are listed entities that own and operate commercial properties. Some of the prominent REITs in India are Embassy Office Parks, Mindspace Business Parks, Brookfield India, etc4.
• Asset Leasing: This is a type of investment where an investor buys an asset and leases it to a third party for a fixed period and rent. The investor earns regular income from the rent and also retains the ownership of the asset. Some of the common assets that can be leased are cars, bikes, furniture, appliances, etc. Some of the platforms that facilitate asset leasing are Drivezy, Rentomojo, Furlenco, etc5.

These are some of the best alternative investment options in 2024 for Indians. However, they also involve higher risks, volatility, and regulatory uncertainty. Therefore, investors should do their own research, understand their risk appetite, and consult a financial advisor before investing in them.

Building a business from scratch in India in 2024 is a challenging but rewarding endeavor. Here are some steps you can follow to start your own business:

• Find a problem and a solution: The first step is to identify a problem that you are passionate about solving and come up with a unique and viable solution. You can do market research, talk to potential customers, and validate your idea before investing time and money into it.
• Create a business plan: A business plan is a document that outlines your business goals, strategies, and financial projections. It helps you to organize your thoughts, communicate your vision, and attract investors and partners. You can use online tools like Bizplan or LivePlan to create your business plan.
• Choose a business structure: A business structure determines how your business is registered, taxed, and regulated in India. You can choose from various options, such as sole proprietorship, partnership, limited liability partnership, private limited company, or one person company. You can consult a lawyer or an accountant to decide the best option for your business.
• Register your business and get licenses: Depending on your business structure, you need to register your business with the relevant authorities, such as the Ministry of Corporate Affairs, the Registrar of Firms, or the Registrar of Companies. You also need to obtain various licenses and permits, such as GST, PAN, TAN, MSME, FSSAI, etc. You can use online platforms like IndiaFilings or Vakilsearch to simplify the process.
• Get your finances in order: You need to set up a bank account for your business, keep track of your income and expenses, and maintain proper accounting records. You can use software like [QuickBooks] or [Zoho Books] to manage your finances. You also need to file your taxes and comply with the relevant laws and regulations.
• Fund your business: You need to raise capital to start and grow your business. You can use various sources of funding, such as bootstrapping, crowdfunding, angel investing, venture capital, bank loans, or government schemes. You can explore platforms like [Ketto], [LetsVenture], [Startup India], or [Mudra Yojana] to find suitable funding options.
• Build your product or service: You need to develop your product or service based on your solution and customer feedback. You can use agile methods, such as lean startup, minimum viable product, or prototyping, to test and improve your product or service. You can also outsource some aspects of your development, such as design, coding, or marketing, to freelancers or agencies.
• Market your business: You need to promote your business and reach your target audience. You can use various channels, such as social media, email, blogs, podcasts, videos, or webinars, to create awareness and generate leads. You can also use tools like [Shopify] or [Wix] to create your own website and online store. You can also leverage platforms like [Amazon] or [Flipkart] to sell your products online.
• Scale your business: You need to grow your business and increase your revenue and profit. You can use strategies, such as expanding your product line, entering new markets, partnering with other businesses, or franchising your business. You can also hire more employees, outsource some tasks, or automate some processes to increase your efficiency and productivity.

These are some of the steps you can follow to build a business from scratch in India in 2024. However, you should also be prepared to face challenges, risks, and uncertainties along the way. You should be flexible, adaptable, and resilient, and learn from your mistakes and failures. You should also network with other entrepreneurs, mentors, and experts, and seek advice and support when needed. You should also celebrate your achievements and enjoy your journey.

Getting loans in 15 minutes in India in 2024 may not be easy, but there are some apps that claim to offer instant personal loans with minimal documentation and quick disbursal. Some of these apps are:

• KreditBee: This app offers loans of up to Rs 4 lakhs for salaried employees with a minimum monthly income of Rs 10,000. The interest rate ranges from 0% to 29.95% per annum, and the tenure is from 3 to 24 months1.
• IndiaLends: This app partners with various banks and NBFCs to provide loans of up to Rs 2 lakhs. The interest rate starts from 10.75% per annum, and the tenure is from 3 to 36 months2.
• Bajaj Markets: This app is a part of Bajaj Finserv, which offers loans of up to Rs 50 lakhs for various purposes, such as home renovation, education, travel, etc. The interest rate starts from 12% per annum, and the tenure is from 12 to 60 months3.

These are some of the apps that you can try to get loans in 15 minutes in India in 2024. However, you should also be aware of the risks, eligibility criteria, and terms and conditions of each app before applying. You should also compare the interest rates, fees, and features of different apps to find the best option for your needs.