Affiliation:
1. Department of Commerce, D.S. College, Katihar, India
2. Purnea University, India
3. Faculty of Economics and Business Administration, Constantin Brâncusi University of Targu Jiu, Romania
4. Faculty of Economics and Business Administration, University of Craiova, Romania
Abstract
This book chapter reviews the long-term impact of Agriculture, forestry, and fishing, value added (% of GDP), Industry (including construction), value added (% of GDP), Manufacturing, value added (% of GDP), Services, value added (% of GDP), Imports of goods and services (% of GDP), Exports of goods and services (% of GDP), and Trade (% of GDP) on India's GDP growth (annual %) from 1960 to 2022. We employed ADF and PP unit root tests to examine the variables' stationarity. This study utilized different econometric techniques, including the ARDL bound-testing strategy and the Johansen co-integration procedure, to establish the long-term co-integrating relationship between the variables. The empirical results obtained by the ARDL bound-testing method validate the existence of a significant long-term co-integrating relationship among the variables. The long-run results demonstrated that most of the macro-economic variables have a substantial positive effect on India's GDP growth.