Author: Paweł Łysiak
Institution: Uniwersytet Warszawski
Year of publication: 2007
Source: Show
Pages: 9-24
DOI Address: https://doi.org/10.15804/ap200701
PDF: ap/10/ap1001.pdf

INDIA AS THE RISING ECONOMIC SUPERPOWER

Since 1991 the world’s interest in South Asia has been rising. Simultaneously, India’s ambitions and commitment to international affairs influenced both its foreign and economic policy.
In the mid- 21st century India will become the most populous nation in the world. Owing to the profound changes in India’s economy, which began in the early nineties, India has been enjoying sixteen years of accelerated economic growth. This involves changes of the society and growing domestic demand. Increased openness of Indian economy attracts more foreign investment to the country and India’s share in global trade has been rising steadily over the last decade.
Contrary to a common belief that specific Indian political culture may hamper growth, the author maintains that India’s democratic political system is likely to start working towards its benefit over the next decades enhancing the country’s competitiveness in the global markets. In the late nineties India was called the world’s call-center. Now it is becoming the world’s greatest supplier of most modern IT solutions.
On the down side, there are other factors such as widespread poverty, dramatic social and economic inequalities, bureaucratism and rife corruption that, if not managed properly, could jeopardize growth in the coming years. The article stresses the need of second-generation reforms.

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