Indian Economy: Then And Now

Search:

Indian Economy: Then And Now

India boasts of an economy, which is considered to be the twelfth largest in the world. As predicted by a leading investment bank Goldman Sachs, by the year of 2025 India’s economy will be the third largest only behind USA and China. If it continues to grow at this rate, it will not be long, when India can influence the economy of the world as a whole.

There was a time, when India’s economy was largely agrarian. But over the years, it has diversified and encompasses handicrafts, handlooms, textiles, manufacturing and a multitude of other services. However, a major chunk of the population still is dependent on agriculture directly or indirectly. India also boasts of a young educated population fluent in English. With the arrival of digital age, India has transformed itself in to a favourite hub of back end processing for global outsourcing of customer services and other technical support. It is not only the IT which is seeing a boom, other sectors such as Biotechnology, nanotechnology, pharmaceuticals, aviation, telecommunication and retail are also contributing a lot in its growth.

It was in the 90’s that India opened up it market by taking drastic economic reforms by downsizing the governments control on foreign trade and investment. Until then, it used to take the socialistic approach as there was curb on the private sector participation. As a result of the opening up of the market and privatization of public owned industries, the economy started growing slowly but at a steady pace.

However, there are still some challenges which poses a major threat towards it’s over all growth. India has a population of 1 billion and it is growing fast. So the real challenge lies in the equal distribution of wealth. Poverty too is a major concern, but it has been declined rapidly after the independence. Along with the sectarian violence and communal riots also pose a major threat towards the stability of economy.

With Indian economy going great guns at the moment, it is the responsibility of the government to ensure that the development continues unhindered.

Article Source: http://articlenexus.com

Sonal Arya is offering advice for quite some time. Having completed her Ph.d in Archaeology from The Jawaharlal Nehru University. She provide useful advice through her articles that have been found very useful. To find Indian Economy, famous in india, cities in india, temples in india, personalities in india visit www.famousinindia.com/

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Arts and Crafts Articles Via RSS!

Additional Articles From - Home | Hobbies | Arts And Crafts

Prime Teensy Disher price Pieces: Organizational Counsel - By : dolly c
Optimum Mini Dollhouse Pieces: Pattern Tips - By : dolly c
Fine Mini Doll Accessories: Pattern Hints - By : dolly c
Original Toy Darbie Accessories: Formational Clues - By : dolly c
Excellent Petite Darbie Accessories: Formational Ideas - By : dolly c
Excellent Teensy Disher price Pieces: Pattern Pointers - By : dolly c
Miniature Dollhouse Furniture: Styles and Selections - By : dolly c
Miniature Dollhouse Furniture: Library - By : dolly c
Optimum Teeny Doll Pieces: Pattern Suggestions - By : dolly c
Miniature Dollhouse Furniture: Living Room Selections - By : dolly c

STOP Paying for Your Ads! FREE Pay Per Click!

Everything you need for your website and home business.
	Adsense Site Builder
	Adsense Analyzer Software
	Clip Art
	Domain Names
	Header Graphics
	Make Money Online
	Photo Art
	Resell Rights Products
	SEO Software
	Web Hosting $4.95/mo
	Website Templates
	Web Site Promotion Tools
AdvancedWebsiteTools.com

	Print This Article
	Add To Favorites
	Email to Friends
	Ezine Ready

Submit Articles
Member Login
Top Authors
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds

(Your 160x160 ad here)
Only $50 a month-click here

Link Exchange
Blog by WordPress
Privacy Policy
Terms of Service
About Us
Contact Us
Banner Advertisements

Have you Victimized by a Business or the Government? File your consumer complaints or business complaints at BusinessReporter.net!

Structured Settlement?
Free information to help you learn more about structured settlements, your rights, and how to select the best company for you.

Affordable Discount Dental Plans
Choose from over 30 top-quality national and regional discount dental plans. Save 10% to 60% on most dental procedures

Classic Autos
Replica Kit Cars

Links

Bad Credit Repair

Hair Loss Remedies

Steiff Bears, Antique Bears

Model Railroading | Model Trains

Fighting Foreclosure

toe nail fungus

Free Diabetic Supplies

Antique Radios | Ham Radios

Crazy Fox Review

Herbal Remedies