Development of Indian Economics

Topics: India, Mumbai, Economics Pages: 8 (2623 words) Published: May 19, 2008
Why did India’s economy and businesses grew so fast in the last decades and how will the country develop further on? What will India be like in future?

2.Indian history
3.Development of Economy and Businesses in India
Development of the rural sector
Domestic policy
India and the rest of the world
4.India and its future

1. Introduction

In todays world there is an enormous interest in why economies and countries grew in the way they did and how these developments could be transferred to huge companies or other countries. Because India was and still is one of the fastest growing economies in the world, it is one of few countries focused most. Indias growth is really interesting because it took place in a really short period, up to this moment not even 60 years. In todays time, India and China are the fastest growing economies in the world, but totally different ones. China, like most other asian countries, developed the segment of ‘smale-scale industries’, producing shoes, toys and so on for export, but indias way was starkly different. Especially after indias independence in 1947, the countrys economy grew faster and faster. How did the country managed the changing from a totally rural country to a really important factor in global economy? Why did indias economy and businesses grew so fast in the last decades and how will the country develop further on? What will India be like in future? This term paper will deal with these questions and try to give an answer to the question how India will be, develop and act in future times.

The first chapter of this paper displays a short overview of the Indian history, up to the year 1947, when India became independent. The second chapter reviews the economical development of India, from launching the ‘green revolution’ up to this moment and what was different in Indian development compared to other asian countries. The third and last chapter will give an idea of how the Indian development will proceed and how the countrys economic will be like in future.

2. Indian History

About 1.500 years before Christ the Aryan – they called themselves that name – came over to northern India from Iran. Because of using their chariots it was possible for them to walk over the other people and to conquer the area around Ganges up to the year 600 b. Chr. Aryans settled down and, after a while, mixed up with other people. There was nothing like the Great Aryan Empire, but there were many smaller kingdoms and princedoms in India. Also today the aryan culture takes place in Indian culture, such as the caste system.

First Indian dynasty, the Maurya-Dynasty, was founded in 322 (b. Chr.) and created the first Indian empire. Ashoko (the emperor) controlled the whole subcontinent except the south. After his death the empire broke down and for a long time again there was no one Indian country. The most powerful lordship at that time was the Gupta-empire in the north. It was also the first Hinduism Empire. Up to the 16th century there was a great war between the Hinduism people and the Islam people in India, which had no end until emperor Akbar reunited India, first only the north, later also the south, and built up an Hindu-Muslim-Culture.

Vasco da Gamma discovered India as the first European in 1498. Up to the year 1664 not only the Portuguese, but also Great Britain, France, Denmark and the Netherlands founded dependencies in India. After few wars Denmark and the Netherlands left and also France after a huge war in years 1756-63. The British men conquered more and more from the Indian subcontinent, but in the year 1857 Indian soldiers revolted. As consequence, the British retired and India became crown colony.

Since 1885 the Indian National Congress fought for independence. Mahatma Gandhi, their mental leader, led the non-violent resistance to success at 15. August 1947. After becoming independent the INC, founded...
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