India’s development & economic growth

-- Loui Bright Kanjirathingal

“India should walk on her own shadow- we must have our own development model. “
-A.P.J Abdul Kalam –

India was in a devastating place when Britain declared India to be an independent country. The European powers had drained all of India’s natural resources. India was a mere shadow of its predecessor. India’s GDP grew from Rs. 93.7 Billion in 1950 to a whopping Rs. 410006.4 in 2006. Its IT industry grew from 150 Million USD in 1990 /1991to a whopping 500 Billion in 2006/2007.

It is the world’s 6th largest economy by nominal GDP and 3rd largest by PPP. After 1991 economic liberalization by P.V Narasimha Rao and his then finance minister Manmohan Singh, India was receiving a steady growth of 6-7% by each year .Since, 2014 with the exception of 2017 India has been the world’s largest growing major economy surpassing China.

Despite previous reforms, economic growth is still significantly pulled back by poor infrastructure, corruption and inflexible labor laws. Even though India’s economy is one of the largest, it is not enough to feed the world’s second largest population. 22% of its population are below the poverty line.

Despite all its drawbacks, the long term growth perspective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and increasing integrant into the global economy. India topped the World Bank’s growth for the fiscal year 2015-2016.

I conclude my article by saying a quote from Sundar Pichai from Google “India will be a global player in the digital economy. Wishing you a happy Republic Day this 26th January.

Loui Bright Kanjirathingal,V C, India International School

Disclaimer: Statements and opinions expressed in the article are those of the authors and written by them; the author is solely responsible for the content in this article. does not hold any responsibility for them.

Express your comment on this article

Wednesday, February 6, 2019
Superb .....

Friday, February 1, 2019
Loved it!!

Anittamariya Vs
Sunday, January 27, 2019
Superb ??????

Anittamariya Vs
Sunday, January 27, 2019
Superb bro??????

Monday, January 21, 2019
Done well sabash ull reach good heights god bless you??

Sunday, January 20, 2019
Well done Loui!!! Such a mature observation from a small kid!! Amazing!!!

Submit your comments...
Disclaimer: The views expressed here are strictly personal and does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.