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Growth Performance of Indian Economy - Assignment Example

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In the paper “Growth Performance of Indian Economy,” the author analyzes one of the countries which faced lots of ups and downs in its economic growth, after the year 1947 (that is independence). India has progressed tremendously in all its sectors, including industrial and IT…
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Growth Performance of Indian Economy
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Download file to see previous pages This percentage is expected to rise to 70% by 2030 - the largest in the world, according to a report titled Destination India- from the Investment Commission of India.” (Hood).
We all know that for more than a century, the United States has been one of the largest economies in the world. However the past few years showed major development in some countries, and the focus moved to Asian countries like India and China which were progressing very fast.

According to the experts, share in the total world GDP of India will rise from 6% to 11% by the year 2025. The GDP of India rose to 9.0% during the year 2005-06 again to 9.4% in 2006-07. The projection reports say that India will be 60% the size of the US economy by the year 2025. India will stand in 3rd position amongst the global economy after the US and China within the next 10 years, overtaking Japan, and becoming the 3rd major economic power in terms of purchasing power.

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 middle-class population exceeding the population of the USA or the European Union.

Though India is the 7th largest country in the world by in terms of land area, it’s the 2nd largest when measured by population and arable land. It is the 10th largest in the world, when measured in USD exchange-rate terms, with a GDP of over crossed US $1.0 trillion (2007). When measured by Purchasing Power Parity (PPP) it ranks as high as 3rd in the world. With the rate of growth of around 8% to 9% consistently over the past 5years India is on the way to become the 3rd largest economy all the way from the 10th largest position by 2025 the first and second being the US and China respectively.

Now after more than 15 years, India is the second-fastest-growing major economy in the world in terms of growth. India’s GDP grew at a world high of 9.4%. ...Download file to see next pagesRead More
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