Indian Economy and its Different Phase for Growth
The economy of Indian subcontinent was as low as the other developing countries and it has come up slowly and steadily as time went by. Being a huge expanse, the Indian population has got varied resources and type of people. The Indian Economy has grown since the time of the Indus valley civilization. The days during the rule of the East India Company had been a serious downturn as the villages grew dependent on the East Indian merchants and had stopped normal farming activities. The raw materials were bought at much cheaper rates than from any other countries and the finished goods were forced down to the people of this continent at an exorbitant rate.
The Business in India started to grow when India got Independence and started to work hard to develop the economy to be self-reliant. There came up different policies and plans that helped in the growth of the economy. The main support was from agriculture and then the other side was the industry that was formed for extracting raw materials. Then industry started to grow from the knowledge of manufacturing from the raw materials. The Gross Domestic Product was calculated at 2.3% in the year 1951-52. The current GDP is at 9% as calculated for the year 205-06.
The trade and manufacturing industry came up and then came the foreign investments for liberalised trade and other reforms started to support the economy to flourish. The Indian Economy started to gain momentum as Government came up with new and better ideas and the policies that they introduced helped the economy to be liberalized. The reforms started from this point and the economic growth started with the introduction of trading of the popular brands. The foreign investment in India started and kept on growing at a steady rate. This diverse economy has helped the national and the global economy too.
The current trend shows that there are few Businesses in India that are good for the entrepreneurs and few such businesses are tourism and the automobile business. Indian population love to move around and thus the national spots and few International spots are good for the Indian citizen and there are foreign tourists who visit India to explore its beaches and deserts, mountains and wild life and hill stations and rural villages , all of which have so much to offer to the tourists towards full enjoyment . The industry related to the automobiles and the automobiles parts are a good source of income for the world over and India has got a good chunk of the industry thriving in Indian market.
The textile market has been a strong point for Indian market from the past and as days passed by, the industry has come up with modern style and apparels, textures and colors and new ideas. The other such zones that have opportunity for the Indian Economy are export of software to the foreign countries and the engineering goods for entrepreneurs having rising demands for such products. A few challenges like a huge population, unemployment and poverty are still there to hamper the growth of the economy but as there has been a steady growth in so many sectors, the Indian businesses will keep prospering the economy of the country in the days to come.
The Business in India started to grow when India got Independence and started to work hard to develop the economy to be self-reliant. There came up different policies and plans that helped in the growth of the economy. The main support was from agriculture and then the other side was the industry that was formed for extracting raw materials. Then industry started to grow from the knowledge of manufacturing from the raw materials. The Gross Domestic Product was calculated at 2.3% in the year 1951-52. The current GDP is at 9% as calculated for the year 205-06.
The trade and manufacturing industry came up and then came the foreign investments for liberalised trade and other reforms started to support the economy to flourish. The Indian Economy started to gain momentum as Government came up with new and better ideas and the policies that they introduced helped the economy to be liberalized. The reforms started from this point and the economic growth started with the introduction of trading of the popular brands. The foreign investment in India started and kept on growing at a steady rate. This diverse economy has helped the national and the global economy too.
The current trend shows that there are few Businesses in India that are good for the entrepreneurs and few such businesses are tourism and the automobile business. Indian population love to move around and thus the national spots and few International spots are good for the Indian citizen and there are foreign tourists who visit India to explore its beaches and deserts, mountains and wild life and hill stations and rural villages , all of which have so much to offer to the tourists towards full enjoyment . The industry related to the automobiles and the automobiles parts are a good source of income for the world over and India has got a good chunk of the industry thriving in Indian market.
The textile market has been a strong point for Indian market from the past and as days passed by, the industry has come up with modern style and apparels, textures and colors and new ideas. The other such zones that have opportunity for the Indian Economy are export of software to the foreign countries and the engineering goods for entrepreneurs having rising demands for such products. A few challenges like a huge population, unemployment and poverty are still there to hamper the growth of the economy but as there has been a steady growth in so many sectors, the Indian businesses will keep prospering the economy of the country in the days to come.
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