Date of Award
Master of Business (Research)
Department of Continuing Education
Dr. Angela Wright
In the 65 years since India formalised its' independence from the British Empire the country has experienced an immense metamorphosis in all aspects of its economy. This current study is an analysis of what the possible future economic prospects are for India. As part of the research process, the researcher delved into the history of the economy, since its independence from British colonial power, to modern day focusing on particular aspects of the economy which were relevant to fulfilling the research question of; where does the economic future lie for India?
The current global economic crisis has in part been the backdrop for undertaking this current study as it has been the catalyst in shifting the pillars of universal economic power between the weakening West to the unlikely emerging East. Society is living through one of the most remarkable and intriguing economic times for many decades. Seismic shifts in economic dominance have occurred between these regions, the West and the East, the magnitude of which has not been seen for hundreds of years; not since the balance of power was held in the spice-, silk- and Jewel-rich East. Consequently, this study empirically examines the key drivers that have inlluenced the Indian economy over the past number of decades and that have shaped its development to date. The qualitative data gathered also examines those factors that are central to its continued evolution and those that are the driving force in moving the economy forward into the future.
The research reveals many interesting and surprising results, most notably that despite India's numerous economic problems, it is its economic strengths that are shining through. It is clear that the country has yet to fulfil its maximum potential, but the drivers to enable it to do so are strong. The research found that the demographics of the country are very favourable for continued growth. This, coupled with the legacy of British colonial rule, means that India is one of the few low-cost labour countries with a large English-speaking population (in fact the largest in the world), making it a natural choice for many international companies to do business there. These elements, coupled with strong predictions of economic growth for the country, which, if unshackled by the government, could be the second or third largest economy in the world, are putting India back on its economic pedestal.
Pushpangadan, Norelene, "India, An Asian Giant: A Compass For the Future" (2012). Theses [online].
Available at: https://sword.cit.ie/allthe/407