The recent economic crisis proved the resilience of the Indian economy. The growth pattern of India is resilient. It sustained the worst of times and is also leading the recovery out of recession. The country which is relatively new to the open markets has shown great understanding and resilience in the difficult times for the world economy. The reasons that attribute to the already proven resilience as well as a sustainable economy for the future, are many.
The Indian regulator, The Reserve Bank of India, has shown in these tough times that it's a responsible regulator and is shrewd in decidion making. The cautious approach of control and restrain which was earlier criticised by the free economies of the world, is now being applauded. The mix of control with freedom allowed India to be resilient and the effects from the other parts of the world were reduced.
The Indian democracy is also an asset for the countries growth. The fact that it doesn't depend on one individual, means that no one individual could bring about a collapse. Autocracy with all it's advantages in implementations, could ruin everything if it falls in the wrong hands.
The Domestic Consumption driven growth is also responsible for the resilience. The large population and the growing middle class makes for the consumption of goods within the country. So even when the exports are suffering, a market is there for the produce. It mitigates the effects of the financial turmoil in other parts of the world to some extent.
The Indian Youth, which provides the largest pool of qualified engineers at relatively lower prices as compared to the already developed nations means that even in the future, India will always be providing quality service at lower prices. At a time when the world is aging, India has a greater number of youth in it's population.
All this means that the 8.5% GDP growth projected for the year looks good to be achieved and be sustained for the XII five year plan as well. The future looks bright for INDIA. It's India Shining.
The Indian regulator, The Reserve Bank of India, has shown in these tough times that it's a responsible regulator and is shrewd in decidion making. The cautious approach of control and restrain which was earlier criticised by the free economies of the world, is now being applauded. The mix of control with freedom allowed India to be resilient and the effects from the other parts of the world were reduced.
The Indian democracy is also an asset for the countries growth. The fact that it doesn't depend on one individual, means that no one individual could bring about a collapse. Autocracy with all it's advantages in implementations, could ruin everything if it falls in the wrong hands.
The Domestic Consumption driven growth is also responsible for the resilience. The large population and the growing middle class makes for the consumption of goods within the country. So even when the exports are suffering, a market is there for the produce. It mitigates the effects of the financial turmoil in other parts of the world to some extent.
The Indian Youth, which provides the largest pool of qualified engineers at relatively lower prices as compared to the already developed nations means that even in the future, India will always be providing quality service at lower prices. At a time when the world is aging, India has a greater number of youth in it's population.
All this means that the 8.5% GDP growth projected for the year looks good to be achieved and be sustained for the XII five year plan as well. The future looks bright for INDIA. It's India Shining.
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