India: Contemporary (last 7 Years) Economic Growth-boom Or Bust; Focus On The High Tech Industries And Outsourcing Of Tech Jobs To India

Running Head : Indian EconomyIndia : The bleak economical tiger in AsiaNameInstitutionProfessorSubjectAbstractIndian economy has seen a steady ontogeny over the last thirty years This can be designate to the stable performance of its manufacturing and IT sectorThis will delve on the major(ip) transformation that Indian economy has experienced over the yearsIndia : The upstart scotch Tiger in AsiaFrom Sleeping Giant to Economic TigerA country k instantlyn for its poverty , overpopulation , and dismal healthc be roam , India has grown to be hap an economic tiger in new years This can be attributed to the influx of manufacturing firms and education engineering companies who decided to expand their demarcation to this part of the earthly concern . With a per capita income equivalent to tenths of member nations of the Organi zation of Economic Cooperation and development (OECD , it is immediately a normal scenario for tourists to see towering skyscrapers in cities much(prenominal) as Hyderabad and Bangalore . From 50 million in 1990 to 1991 , projections have it that hit will be at 50 one k thousand come 2008 (Nagala , 2006The driving force behind this economic turnaround is the American firms who decided to outsource their jobs from the US to India . The Americans realized the advantages of moving their business to India largely because labor costs be much start (Nagala , 2006The awakening of the giant was actually initiated in 1991 when then pay government minister flat Prime Minister Manmohan Singh initiated economic and figure policies which trigge fierce the roots of economic growth in India . Here are the facts and figures that highlight the steady increase of Indian economy (Arun , 2008From 1950 - 51 , Gross Domestic Product jumped from US 20 billion to US 912 billion in 2006 to 200 7 . It is communicate to hit the meg dolla! r mark in 2008 . India s purchasing power mirror symmetry (PPP ) was US 4 meg comprising 6 .

3 of the world s common domestic help productAside from that , periodic economic growth in India jumped from 3 .5 part in the initial thirty years of Indian independence , to 5 .7 portion in the 1990s . In 2003 to 2004 , annual growth set up was 8 .6 and in 2006-2007 , gross domestic product growth was at 9 .4 per annumIn terms of date rate , India s annual growth rate is 2 .9 part p.a. . From 1999 to 2005 , 12 million additional employees were added to India s labor force . It ranks eye blink to China in terms of economic growthMoreover , people earning an income beneath the Indian poverty level have dropped from 51 percent in 1977 to 1978 to 22 in 2004-05 . However , the figure lessen translates to 250 millionThe enrolment ratio in primary school is now at 95 percent . 73 percent of the children red ink to school are reaching fifth lay . Because of its enrollment rate , the 94 percentIndia s employment program has certain curt workers employment for 100 days annually with a daily wage of Rs 80 or 2According to Y V Reddy , who is...If you neediness to get a full essay, order it on our website: BestEssayCheap.com

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