On Indian Economy And Its Economic Development Strategy

Being a great nation in Asia at present, India is also the one with the potential of becoming a world power. Ever since India's independence and the establishment of new China more than half a century ago, both countries have made great achievements in both economic and social development, with remarkable progress in the comprehensive national power. Moreover, China and India have successfully withstood Asian financial crises since 1997, and been advancing steadily both in e-conomic reform and growth, thus becoming two stars of global economic development in the new century. India, an important neighboring country of China, has a lot of similarities, so it is feasible to compare it with China. Through the introduction to and assessment of the economic development of contemporary Indian, this thesis is to analyze the country's economic development strategy, present situation and the trend in order to sum up experience and draw a lesson.Chapter I briefly introduces the basic conditions and social - economic structure India has to develop its economy, including natural resources, human resources, features of the economy and varieties of economic sectors, and then points out the characteristics, advantages and disadvantages of India's planned economy and economic reform. In Chapter II, analysis and introduction to the country's policies, measures and existing problems in economic development as well as the status of infrastructures are given. Just like many other developing countries, agriculture plays an important role in India's national economy. Agro- economy, therefore, affects the development of the whole national economy to a great extent. Chapter III dis-cusses the country's achievements, experience and problems in developing agro?e-conomy and in terms of agricultural development, further explores various strategies, problems and prospect for a developing country as well as an agricultural country. Then in Chapter IV, it elaborates the evolution of the strategies and policies that India has carried out to boost the industrial economy and to become one of the greatest powers in industry. Besides, it analyzes the influence its industry has in the national economy and problems it meets in developing industry. Totally speaking, India is good at basic science. Though the level of technologies India has reached is much lower than that of those developed countries, it is among the highest in the third world. This is a beneficial factor in strengthening India's comprehensive national power. Such conclusion is drawn after a survey of the developing process, system, accomplishments, experience and problems and challenges of India's science and technology in Chapter V. The following chapter inspects the situation of the country's foreign trade after its independence, which consists of evolution of foreign trade policies, contents and features of the reform, foreign capitals and foreign debts, balance international payments, etc. Foreign economy's status in India's national economy and its effect are also discussed in the chapter. India's financial market is highly developed among all developing countries. The market helps to develop the economy through circulation and attraction of capitals. Chapter VII is concerned with India's financial and tax institution, banks, insurance and capital market. The last chapter suggests the prospect of India' s macro ?economy and cites different factors that will benefit and restrict the development of economy.There are four features of this paper. Firstly, the writer's made every effort to select a meaningful subject of the thesis. Strategies, policies and measures carried out by a government are undoubtedly important factors that will affect the country's economic development. There have been many monographs and papers discussing political and economic situations of contemporary India, yet this paper, taking the strategy of economic development as an angle, systematically gives a discussion and analysis of strategies, policies and measures carried out by Indian governme...