India has gone a long way since independence in economy and business. Not only this the country has advanced on all spheres. It is today assumed to be an economic giant a future leader perhaps.
Just after the independence the country followed socialist, protectionist policies that encouraged public sector but not the private sector. Heavy taxation was a bane of all progress and it encouraged tax evasion hence black money.
In recent time there has been as lot of reforms which has brought about a dynamic U turn in the economy. With corrective policies and reforms the industrial sector achieved phenomenal growth. Subsequently exports gained a big boost. The low cost manufacturing and affordable service sector made the country attractive for foreign direct investors. The manufacturing sector has gained a lot and is in position to challenge China.
The country has vast man power which id skilled and semi skilled and understands or speak English. The resultant benefits are obvious and the Nation is engaged in enhancing this factor. Education in India is a priority and will change the country's profile and image abroad. The Indian management cadre, white and blue collar workers and cheap labor contribute to the economy most prolifically.
The burgeoning technological, research and management institutes are the country's futuristic strength. Indian professional will pay an active role in global economy in time to come.
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