|
The Economy of India is the tenth largest
in the world by nominal GDP and the third largest by
purchasing power parity (PPP). The country is one of
the G-20 major economies and a member of BRICS. The
country's per capita GDP (PPP) was $3,703 (IMF, 129th
in the world) in 2011, making it a lower-middle income
economy.
The independence-era Indian economy (before and a little
after 1947) was inspired by the economy of the Soviet
Union with socialist practices, large public sectors,
high import duties and lesser private participation
characterizing it, leading to massive inefficiencies
and widespread corruption. However, later on India adopted
free market principles and liberalized its economy to
international trade under the guidance of Manmohan Singh,
who then was the Finance Minister of India under the
leadership of P.V.Narasimha Rao the then Prime Minister.
Following these strong economic reforms, the country's
economic growth progressed at a rapid pace with very
high rates of growth and large increases in the incomes
of people.
India recorded the highest growth rates in the mid-2000s,
and is one of the fastest-growing economies in the world.
The growth was led primarily due to a huge increase
in the size of the middle class consumer population,
a large workforce comprising skilled and non-skilled
workers, good education standards and considerable foreign
investments. India is the seventeenth largest exporter
and eleventh largest importer in the world. Economic
growth rates are projected at around 7.5%-8% for the
financial year 2011-2012. - wikipedia.org
We will be using India's manufacturing
and service industries to add value to African work.
India Electrical Power use is at 505 KWH per person
from a goal of say 7000 KWH per person. This means that
we have to add many projects to increase the level and
hence the projects will provide the right path for socieconomic
sustainability. The catch is to provide correct projects
to make them sustainable and provide decent living for
all. We at Grina have the methodology for such a program.
But not much direct work has been planned in India at
this time.
|