Essay on India on the Move - 833 Words

Why did India experience relatively slow economic growth from independence until 1991? India became an independent country in 1947 and from that moment until the first years of the 1990’s, the government adopted the Import Substitution Industrialization model (ISI) in order to protect the economy against foreign competition. The model was based on regulations in the private and public sector, trade and foreign direct investment that made the economy very closed compared to other economies in the world. The system was not sustainable in the long term because it encouraged inefficiency in the industry performance. For instance, the average GNP per capita at that period of time was as low as $2301. Moreover, India’s growth performance plan†¦show more content†¦Nevertheless, there are still challenges that must be overcome beyond macroeconomic indicators, for example a reduction of bureaucracy, lower entry barriers, good leadership to eradicate corruption, investment in infrastructure, and most important, the investment on the people through health p rograms and education especially in the highest illiterate states. How big a deal are Hindu-Muslim frictions? Demographic fragmentation? Deficits The Hindu-Muslim conflict is affecting in many ways to India. First, the friction promotes a bad climate of business to foreign investors. For instance, Thomas Friedman in his book â€Å"The World is Flat† describes how a state of emergency in 2002 worried American companies due to rumors of a nuclear exchange attack against Pakistan. The book also quote N.Krishnakumar, President of MindTree a leading Indian knowledge firm who stated: â€Å"What we explained to our government, through the Confederation of Indian Industry, is that providing a stable, predictable operating environment is now the key to India’s development†. Secondly, the conflict affects the country through a high fiscal deficit. Only in 2002, the military spending rose around 10% of the government expenditures (Vietor and Thomson, 2008). The mayor concern is thatShow MoreRelatedMy Move to India Essay1020 Words   |  5 Pages Moving to India What, I stuttered. Yes Neeraj we are going to live in India, declared my Mom. But, I said. No buts, commanded my Mom. Go back upstairs and pack your suitcase with necessary things, be thankful that we are getting your Wii, said my Mom. My whole world turned instantly upside down. Me living in India was the worst thing that would ever happen to me. Hot and humid nights with constant nuisance of mosquitoes, uhhhhh! 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