A country known to westerners as a country of magicians & snake-charmers, is now known as one of the fastest growing econmies in the world and the next big investment options for companies worldwide. What made the conceptions change? What was the reason behind this massive overhaul?
India has been a country affected by poverty and wide discrimination in the hands of Britishers, who ruled the country for almost a century & half, then came independence, and no proper planning to take the country forward.
The then prime minister, Jawaharlal Nehru tried to mix two things which absoluely do not mix, i.e., capitalism with socialism, or the mixed economy, where the government is into everything, which reminds me of a popular saying "Jack of all trades & master of none", From then till the nineties, we have been trying to do the same, till some wise person realised the need of foreign funds & opened the markets. There is a ministry which itself is called the disinvestment ministry, then came the IT revolution, this is one thing which I would say we really stood up & delivered, we are one of the most sought after destinations in this industry, then came outsourcing, thanks to the receding economy of the Americans, which has provided huge employment opputunities for the youth, the present government is promoting bio-tech in a big way, and I wouln't be surprised if we become one of the most sought after destinations in that too. India as an economy is doing good, with inflation under control & foreign funds flowing in.
