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Despite all the mess and chaos of India, the country’s business is booming. This will change the world. Critically discuss this assertion.
LIU CAN (Leona)
Student Number: P1000257X
Tutor Name: Andrew Nicholson
In recent decades, India’s economy is growing at an amazing rate and India has become a closely watched country because of its rapid increasing economy. The purpose of this essay is analyzing the interaction between Indian booming economy and world and discussing Indian current conditions. As Swaminathan (2009) pointed out, Indian growth rate had reached approximately 9% in 2007 which means that India may become the second fastest-growing economy in the world after China.
India has created great changes because of the high-speed development of economy. First and foremost, the growing economy is beneficial to strengthen the import and export trade. Frequent trade can stimulate the growth of the global economy. Moreover, India opens its huge market to the world. It may attract many foreign capital enterprises to invest in India. Finally, economic advantages will contribute to improve its status in the world. On one hand, the development of India has changed the world. On the other hand, the world also can influence its progress. India will change its strategy according to its surroundings and its growing trend is relying on the macro-economic environment.
Nevertheless, India also has many problems that can not be ignored. The most important one is the large population. The government has come up with some solutions to address this problem, whereas it also has limited the development of India. In addition, the education degree is really low. This Country desires more high education talents to improve the current situation. The last and most important problem is inflation. Inflation leads to rising price. Finally, high goods price can intensify all...
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