Discussion the following;
1.Why has India been able to build a thriving economy?
2.What are the country’s advantages in the market?
3.What are some disadvantages?
Length: 1 pages (275 Words)
Q1. Reasons for India’s thriving economy
The first reason India’s economy has substantially grown is agriculture. It is ranked as the leading producer of farm output in the world. For instance, it is the leading in the production of milk, tea, and wheat. Secondly, India is among the leading countries in technological advancements whereby technology is applied in all industries leading to increased productivity. Thirdly, it has several reputable companies which are a source of employment for several people across the country. As a result of people increased number of employed people, there are increased taxes and revenues. As well, India is a politically stable country. This enables the members of the country to engage in investments and innovative projects that substantially build the economy of the nation (Acharya & Rakesh, 2011). Lastly, India has undergone some reforms that have encouraged individuals to become more enterprising hence increasing the economic growth rate (Lal & Clement, 2005).
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