India in 2004

In 1757, the region now known as India, gradually came under the influence of British rule after the battle of Plassey. In 1858, India came under the direct rule of the British crown. In 1885, the Indian National Congress was founded by Indian nationalists. In the 1920s, nationalist leader, Mohandas Karamchand Gandhi, launched a campaign of civil disobedience against British rule. In 1942, Congress launched its 'Quit India' campaign. In 1947, India was granted independence by Britain. Hundreds of thousands of people died during communal violence following independence...

India's industrial production suffered as a result of the global economic downturn and depressed domestic demand in 2001 with just 2.2 percent growth. Industrial growth rebounded in 2002 to 6.1 percent, due to a rise in both external and domestic demand.

India's heavy industry had traditionally been dominated by large state-controlled enterprises. However, with the steady removal of protection since the early 1990s, these had lost some ground to private enterprises...