Indi India's Economic Effect On The United States

In 2015 India was ranked among the highest countries globally in consumer confidence, this comes after the International Monetary Fund estimated an economic growth of up to 7% annually for the next decade in India. But this hasn 't always been the case, in fact, it wasn 't so long ago that India was simply another colonized nation around the world, not to mention it 's usually rare to see this kind of economic growth in such a small period of time. The Effects of globalization, with an emphasis on open trade networks, and the Imperial developments of the late 19th century have led to the emergence and rise of India 's market-based economy. This growth has been affected in a very positive way over a span of centuries by a combination of stronger economic developments brought about by a massive increase in the countries labor force and the emphasis on education and self-governance. An exposure to both the Western economic systems during the imperial age until their independence in 1947 and their subsequent involvement in the Asian, Middle Eastern and African trade routes from the late 15th century placed India in an economic equilibrium where they were able to benefit from both worlds and become one of the fastest growing economies.

7. What lessons can each company draw from its India experience as it contemplates entry into other big emerging markets?

Globalization has been an integral part of India’s progress. It has opened up new avenues for growth.

The recent report of International Confederation of Free Trade Unions shows that as many as 60 million children working in India are in agricultural, industrial and commercial sectors. An insight can be drawn from the report that India's booming economy is taking advantage

As a result of these reforms, the world has been opened up to India and globalization had begun. Globalization has given India new opportunities in economics, social, traditional and governmental methods. The economic sector has had the biggest changes in India. As a result of globalization, westernization has become very apparent in Indian society today and has changed the daily life of the Indian. For instance, English language, clothing, and behaviors, which are more western and taking the place of Indian traditions, are the new ways of the younger generation of India. Globalization offers the youth economic liberation With remarkable growth, India is considered one of the fastest growing countries in the world today (Komath, 2010). Outsourcing by IT and BPO (business process outsourcing) has had tremendous growth in India with a rise in trained professionals that are employed by local and foreign companies to service customers in the U.S. and Europe. Globalization has had a good influence overall on the economy (Somalkar, n.d.). Industry has brought many big manufacturing companies to India which has boosted the economy, by offering employment to the Indian people. But in the farming areas or rural areas of India, it is a much different feeling. It is said that the liberation that the youth enjoy has had a negative impact of the rural areas saying the it has lowered the

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.

According to India’s population report [“Over the last four decades from 1971 to 2001, the population of India has increased from 108.9 million in 1971 to 180.6 million in 2001.”] in result of the rapid population growth. According to the World Development Report, [“The number of unproductive consumers is increasing in India. Unproductive consumers are those who are not employed but they do consume. They include children below the age of 15 years and old persons who are above the age of 60 years. It is not that all children and old persons are not employed.”] with all of these factors it isn 't hard to see that employment is the next issue at hand. there is now where for these people to work. With the urban population the people of India can 't keep their heads above water, the labor jobs that they are subjected to working pay little to

The Indian society is divided into three classes: lower class, middle class and upper class (Driver and Driver, 1987). According to Beteille (2001, cited in Mawdsley, 2004), the economy driver, as well as the major consumer group in India is the middle class, which is driving the economy towards success and development. Furthermore, referred to Misra (1961), the number of the middle class has been increased explosively during the last decade and the characteristic in India is its diversity in terms of language, religion and caste. In other words, India has the most diversity of middle class in the world through calculation (ibid). To the constraints on growth and distribution of wealthy part, firstly, the faster agricultural development can raise the overall rate of growth. Secondly, the distribution of income in industry and agriculture can affect the growth rate through its effect on demand and consequent have effect on industrial investment (Dutt and Rao, 1996).

It is estimated that India will remain growing at levels around seven percent in 2017-2018. This growth is being stimulated by further market freedoms and reforms addressing India’s ease of doing business, as well as an active Government of India-driven campaign to increase local manufacturing, grow the agricultural sector, and attract greater levels of foreign direct investment.

India has experienced economic growth over the last two decades of approximately 7 percent. Over 2004-2010 poverty has only declined by 1.5 percent, which was double the

According to many reports show that over the next 50 years China and then India’s economies will overtake US. Large and growing market opportunities in China and India are widely seen and understood as evidenced by the large flows of foreign direct investment to China, both for the domestic market, but also to use China as a low cost platform for exports to the rest of the World.

India is a country that is abundant in labor. Export-led industrialization can harness this enormous workforce and help to eradicate poverty. Furthermore, the government should subsidize nascent industries that have the potential to become major exporters.

The country’s population pyramid is anticipated to bulge across the 15-59 age groups over the next decade. This demographic advantage is predicted to last only until 2040. A World Bank report states that India is one of the few countries where working population continues to grow till 2050 [7]. With an annual addition of 9.25 million jobs per year, over 37 million jobs are expected to be created from 2012-13 through 2016-17 [8].

To move from a developing Nation to a developed Nation an overall growth of the Society is critical. For a balanced and inclusive economic growth, it is essential for an economy to focus on the base of the pyramid; this focus makes it imperative for India as a country to develop a robust “Ecosystem” for economic and industrial development.

India is attempting to do in 10 years what took 25-30 years in other major global markets. However, to-date there is very little understanding of what the impact of