Economy India Essay

6087 words - 24 pages

Introduction - The Profile of IndiaIndia is the seventh largest country in the world with a land mass of total 3,287,590 sq km, which encompass of land: 2,973,190 sq km and water: 314,400 sq km. It is the second most populous country with a population of over 900 million people. India is located in the Southern Asia, bordering the Arabian Sea and the Bay of Bengal, between Burma and Pakistan. (Refer to Appendix 1 for a more detailed outlook on India).The name 'India' was applied to the country by the Greeks. It corresponds to the "Hi(n)du" of the old Persian epigraphs. The spirit of India has fascinated the world with its very mystique. A civilization united by its diversity - India has always been known as a land where history echoes itself with all its wonders in every piece of stone and every particle of dust.India possesses a distinct identity in its geography, history, culture, people, and language as well as in its natural ecosystem. It is blessed with a wide variety of climates and soil types which permits the growing of many unique earthy roots, precious woods, aromatic spices, exotic flowers, balsamic resins and scented grasses. India's botanical treasures have many fascinating worlds to discover throughout the country.A new spirit of economic freedom is now inspiring the country, bringing comprehensive change to its economy. A sequence of determined economic improvement aimed at deregulating the country and stimulating foreign investment has moved India firmly into aposition of the rapidly growing Asia Pacific region and set free the hidden strengths of a complex and fast changing nation.India's economy embraces traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of support services. Unfortunately, overpopulation in the country has severely handicapped the economy and about a quarter of the population is too poor which leads to famine in the country. But the Indian economy has made impressive progress over the 1990s. Its economic growth averaged to 6% a year, led by strong advances in the services sector. Poverty has fallen significantly, from 34% of the population during the nineties to an estimated 26% in 2000, clearly establishing the link between faster growth and poverty reduction.India has large numbers of well-educated people skilled in the English language and IT. India is a major exporter of software services and software workers. The IT industry has proven particularly dynamic and is now of global renown -- and its success proves that India is perfectly capable of competing and succeeding at the top international levels.India is currently running a GDP of just about 10% in 1997-2002. In 2003 the state-owned Indian Bank substantially reduced non-performing loans, attracted new customers, and turned a profit.Today, India is one of the most exciting emerging markets in the world. Skilled managerial and technical manpower that match the best available in the world and a...

Find Another Essay On Economy India

Keeping Social Unity Essay

874 words - 4 pages Sixty-seven years later the effects of the United Kingdom’s rule still linger in India. Although the Indian government did not change to replicate a constitutional monarchy, the government was still affected by the decade less than two centuries of oppression. The United Kingdom affected the economy. India was known for its spices and good trade items, but after the UK took over, the economy just went downhill leaving many on the streets

Advantages brought to India during rule from the British, were brought by the East India Company, which were run my Indian princes that were protected by the British

1318 words - 5 pages occupied by Britain, as there were both political figures, and military troops from Britain in India. Though they exploited India in a way that could have destroyed India's economy, their presence helped boost India toward modernity with the construction of railroads and other new (at the time) technology.As the cotton trade declined, Britain, through the English East India Trading Company, forced many things upon India that brought them (Britain

This house believes India should slow its economic growth to help the world's climate Should developing countries mitigate climate change

2369 words - 9 pages change. A Lehmans Brothers report estimated that a 2.5°C rise in global temperature would cost the Indian economy some 5% of its GDP (Llewellyn 2007). A report by the Indira Gandhi Institute of Development Research, Mumbai, valued the loss at 9% (Sethi 2007). The reality is that poorer regions such as India are likely to suffer more from climate change, as developed countries are better equipped to adapt to changes climate change brings.The

Imperialism in India

770 words - 4 pages of the old crafts such as metalwork, glass, paper, etc. The rationale for this huge spike impoverishment is because India was to be used as a supplier for raw materials, thus halting the growth of the economy (Doc 7). Not only did Britain disrupt the Indian’s industry, but they also caused unemployment through the superseding of Indian handspinners in the 19th century. (O.I) Another negative effect imperialism has made on India is through the

india reborn

962 words - 4 pages In India’s huge and booming economy there are a lot of ways that you can go from being an untouchable to being one of the richest people there. The key for India is to become a model for the world is through education and it also helps that it is the worlds largest democracy. There are three different classes in India the upper class, the middle class which is the largest of the world, and the untouchables and they are all trying to help and

Economic Analysis of India

1230 words - 5 pages CHAPTER-4 DATA ANALYSIS AND FINDINGS ECONOMIC ANALYSIS OF INDIA The Indian Economy is the tenth-largest in the world by nominal Gross Domestic Product and the third-largest in terms of PPP. India had a growth of over 9 % in 2005-2008 came down to 6.7 % in 2008-2009 because of the world financial crisis of the fiscal and monetary space there but with the time economy recovered to a growth of 8.4 per cent in 2010-11. Again the slowdown in

Online Country Brief #2

838 words - 4 pages differences also attract or push away foreign investors. India has its own economy and though it has had its ups and downs it seems to be a rising star. India is a democratic country with a robust economy and skilled labor. India’s large base of middle class population is an untapped market for a variety of products. This coupled with the availability of skilled ‘English-speaking’ personnel and investment friendly governments have helped it transform

Imperialism And India

996 words - 4 pages India forever. All of these changes, while under the guise of helping the natives, only served to help the colonists and leave the Indians feeling inferior, as though Indians are only "hewers of wood, and drawers of water"      All of these changes in Indian culture and economy forever changed the destiny of the Land of India. While many changes may have been good in retrospect, they were only meant to help the

ikea in india

2353 words - 9 pages India. This will make Ikea the second retailer to do so after the UK based footwear firm Pavers applied beginning of this year.Ikea however still sees the clause that requiers goods to be purchased from small and medium enterprises as a challenge. The management believes that in order to secure low prices and benefit the Indian economy and society, small industries need to grow and develop. Nonetheless, Ikea said it expected to function within the


613 words - 3 pages Nonviolence. Since its independence, India has made great strides in advancing quality-of-life for its citizens. Fertility rates have dropped by over half, literacy has grown from 12 percent to 75 percent, and per capita GDP has soared. It is the third largest economy in the world. While India still ranks behind most western countries in most ways, its progress has been astonishing. Business between the West and India is booming. Companies

A Continuous Decline in India, Without Modernization

903 words - 4 pages the Indian economy. The leaders of new India were determined to raise the standard of living, which was among the lowest of the major nations in the world. Indian leaders agreed to establish a 'mixed economy,' which combines the use of private capital and public in he development of industry, mining and farming. If modernization occurs there will be change from traditional order. The model of change assumes: (1) a sharp dichotomy between the

Similar Essays

India And It's Economy Essay

672 words - 3 pages Overall view of India's economy Great overall objective look. Must get more descriptive within the Industry.Around 2000 B.C. people called Aryan started invading India. This process continued to approximately 1000 B.C. Aryan tribes were led by kings. The Aryans conquered the native population, intermarried with it and settled in peasant villages.The Aryans brought their religion to India. The various sacrifices of the Aryan cults were

Shadow Economy Of India: Should Methods For Convertibility Of Black Money To White Money Exist?

2160 words - 9 pages PAGE \* MERGEFORMAT 2 CONVERTIBILITY OFBLACK MONEYTOWHITE MONEYContentsPageWhat is black money? 3Why is there a shadow economy? 3Consequences of the underground economy and tax evasion 4The Shadow Economy in India 5Convertibility of black money to white money 5Conclusions 7Appendix 8Bibliography 101. What is black money?Black money is essentially the currency used in 'black economy'. Black, shadow, underground, unobserved, unofficial

Did The Indian Mutany Transform India Under Britain City Of London Boys School Essay

443 words - 2 pages become more and more British. Although on the other hand the local Indian prince’s authority had and is being recognized under the East India Company occupation. On the other hand I believe that the economy stayed the same as most citizens were still Indian and stuck with their own businesses and customs. For example the Indian economy remained almost entirely agricultural until the last decade of the century when the domestic production of

Doing Buisness In India Essay

1744 words - 7 pages agreements under negotiation • India-New Zealand FTA • India- European Free Trade Association FTA • India-South African Customs Union PTA • India-Sri Lanka FTA (to be expanded to include services and investment)   ECONOMICAL The Indian economy is characterized by a liberalized foreign investment and trade policy. At the same time a significant role is being played by the private sector. India is a self-sufficient country from far back history