India is a young and developing nation and so is its economy. There has been remarkable economic development of the nation since Independence. India is now the third largest economy in Asia. There has been development in the IT sector. Agriculture and manufacturing industry has a very important role in developing Indian economy. There has been a good growth in the GDP since Independence, however, India is still suffering from high inflation and fiscal deficit which is a major hindrance to the economic development of the nation. Nevertheless, Indian economy is still in the developing process and with proper economic reforms, India can have a developed economy. What are your views in this regard?
Indian economy suffered immense crisis during the time of Independence. Economic liberalization in 1991 has to a certain extent improved the Indian economy. Indian economy is still developing and has been dealing with the problems and crisis that the nation has faced at the time of Independence. There has been a remarkable growth in the agricultural industry as well as IT industry. It is notable that even after suffering from various economic problems, Indian economy has managed to develop to a remarkable extend and is still developing.
Indian economy is developing and its development depends mainly on agriculture, services and manufacturing industries. The IT industry has contributed towards the growth and development of the Indian economy to a great extent. However, Indian economy faces certain problems and issues that works as hindrance in the economic development. Many new MNCs have invested in India and have started business in India. This remarks that Indian economy is developing.
Indian economy had been shattered during the time of India's Independence as it had to overcome all the issues that it faced due to the Second World War. Indian economy have been developing since then and now it is considered as one of the fast developing economy in the World. It is has made remarkable development in many sectors and is still developing and striving to be a developed economy.
Indian economy is and has been facing a lot of hindrance in its development and growth but has definitely developed to an extent. The nation can become even more developed if the problems that the Indian economy is facing are tackled in a better way. Reformation of present economic policies can be a great solution for development and progress of the nation.
