India's Growing Economy And Its Effects On The U.s.

1960 Words Apr 4th, 2015 8 Pages
Cultivating India: India’s Growing Economy and Its Effects on the U.S.
India represents a complex mix of exotic images and prosaic realities. Exotic images of India encompass elephants and monkeys, curry and naan, bindis and Bollywood. The prosaic realities of India focus on the third-world poverty, the prevalence of outsourcing, and its geo-political location in Asia. However, India has cultivated a thriving, modern business presence, and it is poised to become a global financial juggernaut in the next fifteen years. Over the last two decades, India has experienced marked economic and industrial growth in its own country as well as the global community. The rise of India will have a significant impact, not only on the U.S. economy, but the world.
Factors of India’s Economic Growth
Several growth factors contribute to India’s burgeoning national and global economic presence. Having the largest population of youth on the planet means that India’s workforce is surging, especially in the industries of agriculture, manufacturing, and retail. The nation’s growth in production, disposable income, and education leads to a rising middle class consumer base. Finally, the growth of India’s economy is facilitated by political leadership changes and government initiatives that favor an open economy and global competition.
In 2006, fifty percent of India’s population was under the age of twenty-five (Kamdar, 2007, p.8). The number of 15-24 year olds, which is the demographic most…
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