India is the seventh largest and second most populous country
in the world. A new spirit of economic freedom is now stirring
in the country, bringing sweeping changes in its wake. A
series of ambitious economic reforms aimed at deregulating
the country and stimulating foreign investment has moved
India firmly into the front ranks of the rapidly growing
Asia Pacific region and unleashed the latent strengths of
a complex and rapidly changing nation.
India's process of economic reform is firmly rooted in a
political consensus that spans her diverse political parties.
India's democracy is a known and stable factor, which has
taken deep roots over nearly half a century. Importantly,
India has no fundamental conflict between its political
and economic systems. Its political institutions have fostered
an open society with strong collective and individual rights
and an environment supportive of free economic enterprise.
India's time tested institutions offer foreign investors
a transparent environment that guarantees the security of
their long term investments. These include a free and vibrant
press, a judiciary which can and does overrule the government,
a sophisticated legal and accounting system and a user friendly
intellectual infrastructure. India's dynamic and highly
competitive private sector has long been the backbone of
its economic activity. It accounts for over 75% of its Gross
Domestic Product and offers considerable scope for joint
ventures and collaborations.
Today, India is one of the most exciting emerging markets
in the world. Skilled managerial and technical manpower
that match the best available in the world and a middle
class whose size exceeds the population of the USA or the
European Union, provide India with a distinct cutting edge
in global competition.
India Perspectives is published every month in English,
French, Spanish, Arabic, Urdu, Hindi, Portuguese, Russian,
Bahasa Indonesia and German. Views expressed in the articles
are those of the contributors and not necessarily of India
Perspectives. All original articles, other than reprints
published in India Perspectives, may be freely reproduced
with acknowledgement.
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