Abstract
Increased integration into the global economy has provided the context for the distinctive growth trajectory that the Indian economy has traversed in the last 2 decades. This distinctiveness has shown up in the form of associated trends observed across many groups of countries having their particular expressions in India and also by their combination with trends that are peculiar to the Indian case. This chapter highlights some of these important features associated with Indian growth and explores their mutual interrelationships to analyse the nature of, and long-term tendencies inherent in, India’s economic trajectory under globalisation. In the light of this analysis, the prospects of the economy in the post-global crisis world are also examined.
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Notes
- 1.
In purchasing power-parity terms, India’s per capita GDP is less than half of China’s, a third of the level in Brazil, a tenth of the Japanese per capita GDP and 7 % of the US level.
- 2.
In the case of most countries, particularly late industrialising developing economies, the share of the industrial sector in output has easily crossed 40 % before declining. In India, this share has remained below 30 %.
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Mazumdar, S. (2014). Globalisation and Growth: The Indian Case in Perspective. In: Khasnabis, R., Chakraborty, I. (eds) Market, Regulations and Finance. India Studies in Business and Economics. Springer, New Delhi. https://doi.org/10.1007/978-81-322-1795-4_12
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