India and its Economy
India is a land of cultural heritage and spiritual theology. The most fascinating fact about Indian culture is its “unity in diversity”. One thing which India has acquired from its invaders is accepting the best from them and mixing the new styles and customs with the existing, which are visible in every aspect like music, dance, paintings etc.
India has large number of population who are skilled in English and has become the major exporter of software products and services across the world. The reason behind the growth of Indian economy might be the low median age people as compared to the other economies of the world and majorly represents the private sector. The vastly growing software sector is contributing a lot towards rising Indian economy along with Indian textiles which is the second largest source of employment after agriculture,
India is one of the largest developing nations in the world and has emerged as a global player in telecom, information technology, business processing outsourcing and many other sectors. When it comes to purchasing power of the countries, India is the fourth largest in the world. The service sector has become the major factor and a very powerful pillar for the growth of Indian economy. The growth in Indian service sector has not been confined to domestic level but has increased at international level as well.
Therefore, I would say that India is a nation with diverse customs and traditions which in fact is its major strength, a country that has been through ups and downs and despite of all, emerging as the fastest growing economy in the world.