| The economy of India is now the twelfth largest | | | | from India in cheaper rates and sold the furnished |
| financial system in the world according to the market | | | | goods on higher rates in Indian market only. During this |
| exchange rates and the fourth largest through | | | | stage of time India’s share of world income turned |
| purchasing power parity (PPP) basis. But now in | | | | down from 22.3% in 1700 AD to 3.8% in 1952. In the |
| current times, India is under one of the fastest growing | | | | final phase of post colonial, India got freedom from |
| economic country in the world. Due to the involvement | | | | colonial rule in 1947 and the process of reallocating the |
| of the industries and the rigid environment, the | | | | economy been started. India pays large attention on |
| economy is moving towards continuous improvement. | | | | agriculture, industrial sector development to provide |
| Moreover, highly capable, expert and English-speaking | | | | large employment opportunities to the growing |
| human sources have formed a backbone for India. | | | | population. |
| With the help of increasing purchasing power, the | | | | But to develop the current status and to accomplish |
| Indian market has changed into a vibrant, rapidly | | | | the target GDP of 10% for 2006-07 financial years, |
| growing consumer market. India also exports and | | | | Indian economy has to conquer many challenges like |
| imports large market of consumer goods and | | | | population explosion, poverty, unemployment, rural |
| advanced technology to renew its manufacturing | | | | urban divide and so on. Not this, in 2009, Indian |
| power on the other base. | | | | economy has faced some other challenges also like |
| But, in the Indian history, India was largely divided into | | | | inflation under control, diving growth equitably, |
| three parts: Pre-Colonial, Colonial and Post Colonial. | | | | investment plans, dealing with global financial |
| Under the phase of pre colonial, the economic history | | | | uncertainty etc. |
| of India as Indus Valley Civilization has been mentioned. | | | | However now at present, India’s economy has |
| During this civilization time India was very well | | | | grown up by more than 9%, following 3 months running |
| developed and also had the good relationship with | | | | and has shown a decade of 7%+ growth. This result in |
| other parts of world. | | | | 10% poverty reduced with 60% of India’s 1.1 billion |
| Then, after the arrival of colonization phase, East India | | | | populations. Moreover the growth rate of service area |
| Company in India cleaned out the Indian economy. This | | | | was 11.18% in 2007 but now it grew up to 10. |
| is because the British purchased the raw materials | | | | |