The Economic Growth Of India Essay

1520 WordsOct 14, 20157 Pages
Introduction India has experienced lopsided growth across its major sectors especially after the reform process have been initiated in the early 1990s. Studies show that if the pre-reform period is compared with the post-reform period, economic growth has definitely picked up in India. Given the structure of the economy and the state of human capital availability reforms have led to the increase in share of the services sector at the expense of industrial and agricultural sectors. On the other hand number of people living below the poverty-line has also come down during the post-reforms period. Problem is most of the studies showed inequality in income distribution have actually increased in the post-reforms period. West Bengal, with its broad customer base, rich mineral resources and large talent pool, could emerge as one of the leading states to drive the next phase of industrialization in the country. The state is a gateway to East and North East, the region that produce 18.38% of India’s GDP. Being strategically positioned for bilateral trade with Bangladesh, Nepal, Bhutan, Myanmar and ready access to South East Asian countries, over and above the domestic market, West Bengal enjoys a broader market for its products. A strong industrial base would also, in a way, help the state economy to make a natural transition in its development quest from being primarily agrarian to industry driven, moderating the influence of lopsided growth towards services on income

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