Economy of India
INDIA is a growing country. Indian Economy is developing day by day as INDIA is developing itself. Indian Economy is going to touch new heights in the coming years as it is the third largest country in the world in terms of purchasing powers.
India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country’s growth, which has averaged more than 7% per year since 1997. http://infinitelinkz.com/about-india-2/economy-of-india/
India’s diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for nearly two-thirds of India’s output, with less than one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis – in large part because of strong domestic demand – and growth exceeded 8% year-on-year in real terms. http://infinitelinkz.com/about-india-2/economy-of-india/
The history of Indian economy can be broadly divided into three phases: Pre- Colonial, Colonial and Post Colonial.
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