Analysis of the Indian economic sector

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Analysis of the Indian economic sector

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Abstract

India is slowly emerging to be the next economic superpower of the world. It is often regarded as the other Asian giant, and has shown consistent growth in terms of its Gross Domestic Product (GDP) over the years. This growth has been fuelled by enormous economic progress which allowed it to capitalize on growth of emerging information technologies. With a GDP of 8.6%2010, India is competing with other rising powers like China to integrate into the international trade and to emerge as an economic powerhouse of tomorrow.

Introduction
The success of the Indian economy
1. The position of the three economic sectors
2. Agriculture
3. The industry and services
The position of India on the international stage
Economic liberalization conducive to foreign direct investment
ICTs as catalysts for development India
The difficulties and shortcomings of the Indian economy
Conclusion

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[...] With the ICT sector, India is poised to achieve its goal of integration into a global economic trade by its hosting strategy of offshoring activities The difficulties and shortcomings of the Indian economy A number of obstacles on the road to development stand in the path of India's journey as new global economic power. Indeed, lack of infrastructure, large fiscal deficits, inflation expectations, and difficulties encountered in the process of privatization (or disinvestment) and legislation is considered to be major roadblocks . [...]

[...] The reform process has had some beneficial effects on the Indian economy, including higher growth rates, the decline of inflation, and rising foreign investment Economic liberalization conducive to foreign direct investment India currently enjoys strong growth, averaging per annum and a target of 8 to in the coming years. The growth story is driven by a market of one billion people, whose involvement in consumer durables will necessarily increase, and thus will constitute a potential market for many international companies. [...]

[...] This reflects the strong domestic growth and the continued opening of the Indian market that result in increased imports, compounded by rising oil prices, which are the main imports from India ( in 2004). II. How can one explain this 'miracle' India? Indian governments have embarked on a series of economic reforms since 1991 in response to currency crisis and a large trade deficit. These reforms have included the liberalization of foreign investment, significant reductions of tariffs, the modernization of financial sector, adjustments in monetary and fiscal policies of government and the strong will to turn to new technologies. [...]

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