Sample Essay

  1. Critically evaluate the factors that have given rise to the recent rapid growth of the Indian economy.

India in today’s world is considered to be the powerhouse of Asia and it is growing at rapid pace. The economy of India is experiencing a boom and strategists suggest that due to these rising trends they can easily predict that India would easily takeover the European countries in the next year or so. There are different factors that are related to the rapid growth of Indian economy these factors are globalization, offshore outsourcing, cheap labor, skilled workers and etc.

The GDP and the purchasing power parity of India is estimated to be $3.319 trillion in 2008 and the real growth of India has reached the staggering figure of 7.3% in 2008 (Central Intelligence Agency ).  The private savings of the people are used in financing most of India’s investment. Similarly, another important factor in their growth is their skilled population. India has one of the largest English speaking populations of the world and that is the reason why they have excelled in the area of outsourcing. This economic development of India is likely to continue in the future (Economics help ). Although, India is considered to be conservative country but the in the current ages they have adopted a transformational strategy towards FDI and trade. Removing trade barriers and improving the standard of products has helped India to achieve the desired growth in Asia. The multinationals that are present in India are bringing foreign direct investment in this region and organizations like Dell, Intel, and Wal-Mart have opened up their virtual service centers in India. Their local organizations like Tata, kingfisher, Wipo and etc have also increased the level of growth and they have contributed a lot in bringing a hefty amount of FDI in the country.

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