Economy of India
- A brief history of the company
- A presentation of the activity of the company, its SBUs, its products or services
- A presentation of the company's organization chart
- Explaining the positioning of the enterprise market, the corporate or business strategy and its competitors
- Future of the company: Development of projects and New products?
An ocean of poverty on one hand and a growth of large tertiary centers of excellence with global ambitions on the other, two realities coexist to make India a country of continental size in transformation, which is now in the fourth place worldwide by its GDP. Its population crossed one billion inhabitants in 2000 and is expected to exceed China's population by 2030. Economically, India has many comparative advantages in service sectors with a skilled workforce and abundant clusters already recognized by all major global firms. Internally, India is the largest democracy with some 650 million registered voters in 2004, despite a mass of poor population. What place and what role is India preparing for, as it assumes this new geo-economy in the world?
Indian flourishing during British colonization:
The historical works of the economist Angue Maddison show little doubt that India was in 1700 one of the leading world economies with China, with nearly a quarter of global GDP each. However, accelerating decline during the nineteenth century led to the historical level of 4% of global GDP in the 1950s.The fact is that India flourished, with market dynamics that were responsible for business development to the maritime Southeast Asia and the Middle East, known as "spice route". It is the same by land, with the equally famous "Silk Road". This power is largely based on crops of rice, sugarcane, spices, and finally to some extent, the textile sector.
Thus, from the sixteenth to the seventeenth century, the trade volume was growing steadily with unprecedented interest from European clientele for Indian textiles. The textile industry provided full employment and India figured among the top economies in the world. However, Europe was growing much faster due to the beginnings of the agricultural and industrial revolutions, and an explosion of its population. Unable to find political stability, India left the new European powers to become the new masters and impose a colonial model which would result in underdevelopment of India.
British colonization of India from 1757 to 1947 was marked especially by terrible famines, about twenty, which caused millions of deaths. The decline of the Indian economy under British colonial rule was built around a triple mechanism: the decline of craftsmanship and progressive ruralization of the Indian economy, the establishment of the orientation towards crop yields for export, and finally a pattern of industrialization subordinated to the interests of the metropolis and the vagaries of the global economy marked especially by the Great Depression of the 1930s. However, some merchant communities begin to accumulate large capital and increasing technical expertise that enabled them to gradually take the ascendancy of economic colonizers, and thus acquire a certain political power.
The independence of India in 1947 came about in a climate of strong political and economic instability that would last at least until the adoption of a constitution in 1950. Large communal riots shook the country at the time of partition with Pakistan. The economic situation was so catastrophic, with a recurrent food crisis, shortages of essential raw materials, and an increasingly uncontrollable inflation.
Tags: recurrent food crisis, Great Depression, British colonial rule