The Indian chemical industry has gained a major share in Asia’s growing contribution to the global chemical industry. It has also emerged as one of the preferred destinations for investment in the chemical industry worldwide (Chambers, Road, & Nadu, 2012).
Low employment rate in the service sector cannot sustain high growth rate for long
The service sector is one of the fastest growing sectors in India. Contribution of this sector in gross value addition in Indian economy was 52.97% during the financial year 2014-15 (Planning Commission 2015). India witnessed a rapid expansion in this sector after the liberalisation of the economy in 1991.
Manufacturing sector in India before and after the liberalisation of 1991
A well-developed manufacturing sector is needed to provide the basic needs of the population. Similarly to lead to an increasingly diversified economy and to give rise to social psychology and institutional changes manufacturing sector is a principal indicator of economic development of a nation.
Overview of foreign direct investment in pre and post economic reform in India
The foreign direct investment drives the economic growth of a country. Foreign direct nvestment plays a major role in the advancement of technology, generating employment opportunities and promoting overall development of the economy.
Comparison of the Indian and Chinese economy
China is the fastest growing economy in the world and India is the second fastest. Together they account for a disproportionate share of global GDP growth today.