Question

explain economic environment in india?

Answer 1

Economic Environment in India has been changing since independence. India was initially a pure agrarian economy in the sense that almost 70% of GDP came from agriculture but as we moved on, industries and service sector came up and to say are moving at very high pace. Economic environment of an economy depends on a lot of other factors. How large is an economy, how much is the population, what is the demographic structure, illiteracy etc.are some important questions whose answer affects the economic environment. Post economic reforms of 1991, India has opened up to global trade and is very welcoming to foreign investment. India are China are considered potential and powerful markets.