Indian Economy: An Introduction

The Indian economy, with all its complexity, has a number of objectives that sometimes puzzle one while trying to establish clear and concrete linkages. It is, possibly, not very clear about the ultimate end product for a democracy like India where political upheavals, many a time, change the framework of the developmental process. As India is primarily an agrarian economy supporting 60% of the population, reviving agriculture and allied sectors would be critical in the coming days. While we continue supporting immediate relief efforts, we must work towards creating small local growth clusters with more self-reliant systems of production, processing and marketing to create livelihoods and employment for 0.5 to 1 million households. India is a developing country and our economy is a mixed economy where the public sector co-exists with the private sector. For an overview of the Indian Economy, we should first go through the strengths of the Indian economy. India is likely to be the third-largest economy with a GDP size of $15 trillion by 2030. The economy of India is currently the world's fourth-largest in terms of real GDP (purchasing power parity) after the USA, China and Japan and the second fastest-growing major economy in the world after China. The present book is an authentic and comprehensive account of India's economic history, economic growth, economic strength, and its emergence as a regional economic power over the years.