India

India’s Emergence (appearance rise) as an economic (financial)power

India was viewed mainly as a poor developing country and had a low visibility on the global political and especially global economic front. India has become one of the oldest civilizations in the world with a colorful variety and rich cultural heritage. India has become self-sufficient in agricultural production and is now one of the top industrialized countries in the world. However, the question remains whether India will or can emerge as an economic power. Exactly how did the economic power of India change and what cause it to change? What are the advantages and disadvantages of India being an economic power?

We begin by learning more about India. India, the 7th largest nation by area, lies at the north of the Indian Ocean. The Thar Desert in the north-west and the Himalayas in the north and north-east protect it from bitter continental cold and also save the monsoons from escaping. The subcontinent contains necessary water resources and flat arable land to sustain its massive population. Many Eurasian sea trade routes pass through or close to Indian territorial waters. [5]

India’s diversity in culture, foods, clothing, language religion and life style is marked by a unique sense of integration. This sense of unity preserved India’s national integrity and formed the distinctive Indian culture. Today, India’s culture is characterized by a unique vision of oneness. North, south, east and west all have their own distinct religious identities. This has resulted in multiple cultures and life styles in the country. Yet the whole country remains bound together as a single nation.

India is a country with a wide gap between the rich and the poor. Therefore, this makes it a major challenge for India to reduce the socio-economic inequality amongst the population. Poverty still remains a major issue for the government even after implementing many economic reforms. For example, a...