India - Development and Participation
My humble attempt at serious writing, within 400 words. Note: If some parts seem abrupt, blame it on the 400 word limit. A COMMENTARY ON “INDIA: DEVELOPMENT AND PARTICIPATION” When India opened its economy to the world in 1991, it heralded a new era of liberalization, a break-away from the “ License Raj ” regime that had constrained the growth of the Indian Economy. The liberalization programme opened the doors to International Trade, and resulted in a renewed interest among the International Community in the possibilities of the Indian Economy, with Forbes magazine declaring in 1994 that “ India may be the best emerging market of all ”. However, despite creditable growth in its development performance in 1990s, India’s economy never attained the anticipated “ spectacular ” growth. Although several MNCs entered India in the 1990s, contributing to the boom in economy, the growth did not percolate to all sectors and regions of the country. Although India’s economy has posted an excellent...