The Economy of India

Global Challenge for the Century

The Indian economy is a picture of contrasts : on one side, there is mass poverty and, on the other, the development of centres of excellence in the services industry. These two realities coexist within the same economy, an economy of continental proportions now in a process of complete transformation. Measured in purchasing power parity, India clearly ranks fourth worldwide as regards its GDP, or fifth if the European Union is considered as a single entity. Its population crossed the one billion mark in 2000 and is likely to exceed China's population between 2025 and 2030. Will the acceleration of its growth to more than 6-8 per cent per year and a more offensive stance on Globalization translate into the emergence of a new economic superpower alongside China? This Book attempt to answer this question by analysing the internal and external challenges faced by the world's largest democracy.