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Factors That Have Enabled India to Become an Emerging Economy - Essay Example

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This essay explores the different economic, political, social, and technological factors contributed towards the growth of Indian economy. The paper will also make the recommendation for India in order to maintain (sustain) economic growth…
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Factors That Have Enabled India to Become an Emerging Economy
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Download file to see previous pages This research will begin with the statement that the increasing competition and changes in the global marketplace have resulted in forcing the organizations to come up with new and innovative methods for increasing the market growth and share. Increasing globalization and internationalization have resulted in providing these organizations with an option to expand into international markets. On the other hand, different countries and international markets are trying to attract the organizations and foreign investment with the help of favorable policies and factors in order to improve the overall economic condition of the country. India is eyeing to become one of the powerful economies of the world, as it can be seen from recent past that Indian economy is showing rapid growth and is amongst the top growing economies of the world at present. India is the tenth largest economy in terms of nominal GDP and is amongst the top three (third largest) economy with respect to purchasing power parity (PPP). The main reason behind this growth comes from various alterations and transformations made in economic, social and political practices of the country or in simple words by adopting reforms. This has lead towards creating a situation that country which was a few decades ago under the list of under developing countries is amongst the top powerful economies of the world. Meanwhile at present according to the economic survey of 2011-2012, Indian GDP showed a positive growth and is amongst the top three economies of the world that have shown significant growth over a recent past in terms of GDP. However given below are some of the important factors that are playing important role in the growth of the Indian economy. India has been able to grow and improve its economy by attracting more and more international business and organizations. The country is striving hard to provide the international investors with feasible conditions in order to increase the Foreign Direct Investment in the country. The economic, political, social, and technological factors all have been shaped in such a manner that more and more international organizations are investing in the country. The economic, political, and technological factors of India are attractive for any method of internationalization including; export based, nonequity based, and equity-based methods for internalization. ...Download file to see next pagesRead More
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