Abstract
India has seen a drastic metamorphosis over the last century. From being under the British rule to being a global giant in just over 60 years could be termed as a global success story. It has been the last 15 odd years that India’s economy has been growing at a massive rate. In this essay I will attempt to bring out the salient features of the economic reforms introduced to India to have made this growth possible. I would first make some comments about what globalisation is and why it is so important for India. I will also put forth an assessment of the aforementioned reforms from an economic and sociological viewpoint. In the latter part of the essay I will put forth a foreseen direction of the economy based on the investigation made. We will also discuss how worldwide consumer attitudes would affect the trends in the Indian economy.
Note: The timeline is mentioned next to every subtopic in the essay.
Table of Contents
Abstract 2
Table of Contents 3
Introduction 4
What is globalisation? 4
Why is Globalisation important to India? 5
Body 6
Economic reforms introduced for India’s benefit 6
Assessment of the effectiveness these reforms have had 6
Conclusion 6
Evaluation of the effects on the economy in general 6
A foreseen direction for the economy based upon the study. 7
References 8
Introduction
What is globalisation?
(Proposed date of completion: 31st may 2008)
Globalisation is a vast concept. It is mandatory for the survival of almost any nation’s econo ...