India 's Economic Impact On The Future Of India

The Russian experiment of the 90ies shows that while wanting to go from a point A (Soviet economy) to a point B (an idealized market economy), Russia reached another balance, a point C (a degraded market economy). For all these reasons it is preferable to speak about a process of transformation rather than about transition.

On the 15th of August, 1947, India awoke to freedom and democracy, when the British passed on the controls of ‘the brightest jewel in the crown’ (as India was lovingly called) to the Indian people. The Indian subcontinent has been invaded since time immemorial for the riches the land held. It is often said that trading with India and conquering it was a great deal to the Europeans. For the British to reign the country for so long, which became dominant primarily after several wars and diplomatic issues in Indian as well as Europe, was a source of pride. It established them as superior to the Dutch, French and Portuguese. However, if India indeed is a country of such abundance, and has been a free country for so long, why is it still counted amongst low income countries? In this paper, I make an attempt to evaluate how India’s economic policies and growth have changed since independence.

person than India. While India’s GDP per person is lower than China, mass manufacturing has created an unbalanced wealth dispersion amongst the Chinese population. Foreign investments in “manpower and labor development, water management, high quality health care facilities and services, communication and civic amenities has helped China create a positive impact on its economy” (Kumar). But this has come at a cost of unequal wealth distribution. The appeal of cheap manufacturing has been one of the most significant differences in the growth of the two country’s economies. Not only has China produced a much larger industrial economy, but the quality of manufacturing and the depth of infrastructure is currently unparalleled.

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.

India and South Africa are members of the five major emerging economies. They are both developing countries however, they are well distinguished for their large democracy, fast-growing economies and significant influence on regional and global affairs. This report aims to comparatively analyse whether India or South Africa is in a better position to succeed in the global economy. For the purposes of this report, I will be comparing and analysing each country’s political and economic environment and also looking at the environment for foreign direct investment in order to determine whether India or South Africa is in a better position to succeed.

followed during the trajectory of the Indian state after partition. The three essays in the book thus

The British had torn the Indian economy apart, by exploiting India’s resources along with her people by means of high taxation, leaving them to starve. India’s industries suffered with the rise of the British Industries and their machine-made goods. Knowledge was restricted only to the upper

Introduction. Vitality will be particular case An vital inputs to the investment improvement of whatever nation. On account of the Creating countries, for example, such that India, the vitality division expects An discriminating criticalness in perspective of the at any point expanding vitality necessities requiring tremendous ventures with help them.

India is a country which was and still is diverse in terms of cultures, languages, ethics and beliefs. During the 1970-1990 when the British rule had just been over in India, it soon started to face problems in their balance of payments. By the end of 1990, it was in a serious economic crisis. The government was close to bankruptcy, the central bank of India had refused new credit and foreign exchange reserves had been depleted to a point where India could barely finance three weeks’ worth of imports which made the Indian government airlift the nations gold reserves as a pledge to the International Monetary Fund (IMF) in exchange for a loan to cover its balance of payment debts.

Contemporary India with a scientist President and an economist Prime Minister is very successfully treading the fast track of development Starting from an utterly ruined and exploited country under the rule of the haughty Britishers who sponged away the India wealth, the story of India's success in the last 60 years, is one of the proverbial rise from 'rags to riches'. India's development within a short span of time, to the level of a country which on its own conducted nuclear test, joining the elite club of nuclear powers, and now becoming a rightful contender for getting a permanent seat in UN Security Council, speaks volumes about India's success.

The Government of India accounced the New Industrial Policy in 1991 in which a number of liberalization measures were taken; such as

7. GDP has come down and the GPD forecast for the next two quarters are only average.

The Bombay Plan had the most important share in the establishment of an independent economic policy in the Post-colonial Period. India earned its independence from Great Britain in 1947 and starting with this date, it mainly focused on restoration of the economy via centralization. For centralization process, an economic model that was inspired by Soviet Union called “Five Year Plan” was developed and was accepted by the Indian the Government in 1952. (Lokanathan, 1945).

“Every year, we celebrate our Independence Day with great fervour as well as joy and justifiably so, as it commemorates that day, when after many years of subjugation, our country gained its freedom. Indeed, in the annals of history, 15th of August 1947 will always be remembered as a day of an extraordinary accomplishment, of when India won its freedom with unparalleled fortitude and unique means. Under the leadership of Mahatma Gandhi, our

obstacle in the way of India`s progress was not the British colonial rule but the socioeconomic backwardness of the British government. Not the independence, rather the socioeconomic progress of India was the sole motto of the moderate leaders of the INC, during the firsts phase. The moderate