Essay on India—an Emerging Power in the World

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.

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.

From April to June 2005, India’s GDP grew at 8.1 per cent, compared with 7.6 per cent in the same period the year before. More impressively, India is achieving this result with just half of China’s level of domestic investment in new factories and equipment, and only 10 per cent of China’s foreign direct investment…

There are the lots of factors which are playing hidden role on the economic development in china and India. According to World Investment Report UNCTAD, 1994 following reasons are playing role on development in both countries Capital investment. , advanced technologies, highly skilled labour , transportation, communication and infrastructure development, low tax rate ,stable and supportive political and social institutions favourable regulatory environment. However, China’s current growth miracle is increasing by total factor productivity (TFP), Capital accumulation etc.India’s growth miracle is in the race of development because private business is increasing rapidly. There are lots of private forms like Tata, reliance industries, Aditya Birla, Essar and many more (Goldman Sachs,2011).However, China’s and India’s economic growth history starts after economic reform in both countries.

On Dec. 2015, the GDP Per Capita in India is 5800 (USD) and the GDP Per Capita in China is 13200. The GDP growth rate in India is 7.3% and that of China is 7.3%. (Above data comes from

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

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

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

The economy of India has seen an explosive amount of growth during the past few years. India 's economy is the fourth largest in the world in terms of purchasing power parity (PPP) followed by a Gross Domestic Product of $3.3 trillion. India also has 8.1% Gross Domestic Product growth rate, which is second in the world (Economy of India 2005).

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.

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

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.

As mentioned, India is one of the fastest growing economies in the world are China and also the two

India is an exponentially growing economic powering the world. Indian economy stands today as one of the influential and attractive economy. The liberalization move by the Government of India in 1990s has given a boost to the Indian