India in 2004
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Case Code: ECOA118 Case Length: 22 Pages Period: 2004 Pub Date: 2004 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : India Themes: - |
Abstract Case Intro 1 Excerpts
Abstract
With the Indian economy growing at 8% a year, Indian politicians, businessmen, diplomats and journalists are displaying a new sense of self-confidence. Foreign exchange reserves at more than $100 billion, have reached record levels. The country is riding the wave of globalisation of services, led by the computer software industry. India has other reasons to be proud of. In a region characterised by political instability and military coups, the country has maintained a democratic framework since independence. Despite poor literacy rates and widespread corruption, a high level of political awareness has ensured that democratic norms are respected.
Expectations are high from the new government led by Dr Manmohan Singh, who took charge in May 2004. But a major crash in the stock market on 17 May 2004 has made people sceptical about the government's intentions to proceed with economic reforms. Despite the government's disappointing budget in July 2004, many remain optimistic that the next budget will have several measures to hasten the process of economic liberalisation.
Contents
Keywords
Indian economy, Indian industry, Reserve Bank of India, Dr Manmohan Singh, Foreign trade in India, Mining in India, Banking and insurance, National Democratic Alliance, India's GDP (gross domestic product), Agricultural economy, Vajpayee, Congress, India Gandhi, Economic liberalisation, Democracy
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