Essay on India—an Emerging Power in the World Rare are the moments in history when a nation suddenly captures the imagination of the world. For India, those rare moments have arrived. The country is achieving a high economic growth of over 8 per cent of its GDP annually, on a consistent basis. In fact, India’s economic growth rate is second highest in the world-next only to China. The developed world has been left behind. The two Asian giants-India and China have today turned the leaders of growth of the global economy. One can get the measure of India’s resurgent economy from the fact that the world GDP growth is around 4 per cent. For advanced countries, the growth rate is around 3.5 per cent, while India is maintaining its GDP growth …show more content…
Our exports have almost doubled during the last four years. The foreign exchange reserves have crossed US $ 200 billion which have given India a great financial strength. Our rupee has become very strong against the other international currencies- notably dollar, pound and euro. However, there is poverty amidst plenty in many areas. Millions people live in poverty and destitution. They do not have even the basic amenities of life, viz. food, clothing and shelter. This is because of the large size of our population, illiteracy, poor public distribution system and corruption. But, things are improving fast in India. Centuries of exploitative rule by the British had drained India of its wealth. After achieving independence, the country had a great task of rebuilding the basic infrastructure, spread education and bring new technology. The planned growth put the country back on track. Today, the literacy rate has improved to over 75 per cent, the per capita income has crossed Rs 25,000, health care facilities are available in every part of the country, and employment opportunities are growing. The large size of the population is actually a great source which can lead the country to dizzy heights. Nearly fifty per cent of our population is young which means a great working potential, which, if properly utilized can increase production and eradicate poverty. India is the biggest democracy in the world. The governments at the centre as well as at the states
How did Jobs early years, prior to Apple, influence his view about human nature, work, and assumptions about employees? Please provide specific examples that support your answer.
As highlighted in the case study, India’s Domestic Gross Product (GDP) was well over 3 trillion in 2005 and the
… in 2003 and 2004, [China] was investing close to 50 per cent of its GDP in domestic plant and equipment - roughly equivalent to India’s entire GDP. That is higher than any other country… China’s growth stems from massive accumulation of resources, while India’s growth comes from increasing efficiency…
India’s economy is the fourth largest GDP in terms of purchasing power parity (Gupta and Gupta, 2008:68).
India’s economy is booming! With large decreases in poverty, increases in literacy and GDP, India is continuing to make its way out of the third world and into the first. India is predicted to surpass even China in growth by 2050. A competitive private capital market has instilled Indians with a low cost high quality mentality and has resulted in some of the highest return rates for any country. India has been averaging 6% growth compared to China’s 9.5% with half the investments. India capital efficiency is one of its strongest economic benefits.
India with about 1.2 million populations and china with about 1.3 billon population are two big demographic and emerging countries in the world .Over a past few decade India’s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011¬).India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). India’s total GDP (gross Domestic Product) growth was 5.5% in 2012 and inflation rate is was .........(The Economist, 2012) .According to government of India poverty has been decline from 37.2% in 2004 to 29.8% in 2010 (world bank 2011).The major economic growth sectors
1. Economic prosperity and the consequent increase in purchasing power have given a fillip to a consumer boom. Note that during the 10 years after 1992, India's economy grew at an average rate of 6.8 percent and continues to grow at the almost the same rate – not many countries in the world match this performance.
The Indian economy is the second fastest major growing economy in the whole world with the growing rate of the GDP at 9.4% in 2006- 2007. The economy of India is the twelfth biggest in the world for it has the GDP of US$ 1.09 trillion in 2007.
In 1991 the government introduced liberalization due to which GDP of India has risen rapidly. There was reduction in tariffs and interest rates which in turn increased the foreign direct investment in many sectors. For a period from 2003 to 2007 India enjoyed high growth rates averaging
Economically, India is said to often seem like two different countries. 1)Village India which is supported by the traditional India ways with many living in poverty and 2) Urban India which is considered one of the most industrialized areas in the world. In terms of infrastructure, India is one of the fastest growing growing economies. Due to globalization and early innovations, India has become one of the majors providers of IT services. It may
Despite of the complex policies and restrictions foreign investors were confident of India 's economic growth as even during the peak of the global economic crisis, the country 's GDP registered a healthy growth rate. India 's merchandise trade increased to 40% as a percentage of GDP in 2009-2010 from 30% in 2005-2006, which
India gained its independence in 1947 and its economic and political structure has been thriving ever since. Now, India is a democratic country that continues to mature as it improves its market-based system. Its growth can be seen in industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign aid and investment. Like the US, it has divided powers between the executive, legislative, and judicial branches. The current Prime Minister is Narendra Modi, who leads the Bharatiya Janata Party. India’s economy is made up of agriculture, industries, and services and is the second-largest workforce in the world. Growth slowed in 2011 due to high interest-rates and inflation, but has continued to move forward in other ways.
As mentioned, India is one of the fastest growing economies in the world are China and also the two
In India they have a growing economic system. Global Edge states that in 2011, “India’s estimated GDP was $1.843 trillion with 7.8% growth (Global Edge). Then another measurement was taken in 2013; according to the CIA, India’s GDP is about $4.99
In 1991, when Prime Minister Narasimha Rao agreed to take a loan from the International Monetary Fund to stave off a financial crisis we witnessed the low-point of the Indian economy. At that time, the country had dwindling foreign exchange reserves and was months away from defaulting on its debts. As part of the I.M.F. package, the government passed reforms such as devaluing the rupee, encouraging private sector competition, and deregulating the economy after 40 years of central planning. By opting for market-oriented reforms in 1991, India’s GDP has grown at a rate of 6.6% annually over the past 20 years. As a rapidly emerging economy and a member of the BRICS, we must continue to push our strategy of export led