It is important for us to know more about our own country and being future manager or entrepreneurs it is important for us to know about the past of India’s Economic Condition and also the future prospects. With the change in the Indian Government , We will it will be a great learning for us and also a chance to apply our skills , knowledge that we have learnt from our first year of BBA and also harness the things we learn under out mentor Dr.Ankit Kesharwani.
The report briefly talks about the Rich History and geography of India . It also includes the economic developments that have taken place over the years port independence . The Sectoral Composition is one of the most essential information that one must know while studying the Macro Economic Structure of India . It talks about the contributions of the various sectors . It is impossible to study about the Economic Development without the mention of the economic parameters of India . We have selected three main parameter which have been described and analysed. There are other 7 parameters which are briefly described with the comparision of last 5 years data of each parameter and also discussing the future prospects.
With the emergence of the New Government India , The NaMo Effect has spread over the economy of India . The change has resulted in a lot of Emerging Trends which will help in economic and Financial Development of India.
HISTORY AND GEOGRAPHY
India has a distinct and renowned place in the world whether it is in terms of history, culture, geographical location or the modern developments and progress in the field of science and technology. Historically, India is a cradle of one among the oldest cultures in the world which in turn has contributed in its present splendid culture. The level to which India has shown its resilience after its independence from Britishers is phenomenal. In the last 65 years post independence, it has achieved all-round politico-administrative developments, socio-economic growth and technological-scientific progress to the envy of the world. In terms of area the country encloses, it stands as the seventh (7th) largest country in the world. The geographical boundaries are marked by vast Himalayan ranges in the north to the ocean-washing coasts on the three side viz.Bay of Bengal in the east, Indian Ocean in the South and Arabia Sea in the west. India lies between 8° 4' and 37° 6' north latitudes and 68° 7' and 97° 25' east longitudes thus placing it entirely in the northern hemisphere. The aerial distance from north to south is about 3,214 km and between east to west is nearly 2,933 km. It has a land periphery of about 15,200 km and covers an area of 3,287,590 sq. km (1,269,346 sq mi). The vast coastline of the country including mainland and Islands of Lakshadweep and Andaman & Nicobar is 7,516.6 km Due to this strategic geographical situation in the Asian Continent, India had a unique position in the history of the world and was known as the “pearl of the orient” in the history. India’s “tryst with destiny” after independence has been phenomenal. It pulled from the state of backwardness and despair and placed itself to the present position where it is self reliant in terms of agricultural production, milk production, industrial output, nuclear power and scientific progress. It has even reached out to outer space to imprint it’s name in the field of satellites, remote-sensing and space exploration.
It is now well established that 1991 has been a watershed year for India in more respects than one .Previously the Indian economic policy post-independence was seen as exploitative by the one .Previously the Indian economic policy post-independence was seen as exploitative by the Indian political leaders then as they had inherited the British style of Governance. Indian economy at the time of Independence was overwhelmingly rural and agricultural in character with 85...
References: 1. Industrial Development and Globalization – Various Authors
2. Indian Economy and the WTO – Vibha Mathur
3. Indian Economy Since Independence – Uma Kapadia
5. Various Government Portals
6. Newspapers like Economic Times , Mint , Hindustan Times & Times of India.
7. Websites of various News Channels and their Publications.
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