G3-247 Report INDIA
With growth came problems for small companies and farmers and there were large scale famines. After World War 1 changes began and the Indians called for self rule which finally led to India becoming an independent nation in 1947 after a struggle for independence led by Mahatma Gandhi.
The constitution was completed in 1950 which put in place a secular and democratic republic and over the last 60 years the country has seen highs and lows.
Economic liberalisation began in the 1990s which has created a large urban middle class and yet it still has huge amount of poverty, violence, religious insurgencies and unresolved territorial disputes with China and Pakistan.
India is a federal constitutional republic governed under a parliamentary system consisting of 28 states and seven union territories. All these states, and two of the union states (Puducherry and National Capital Territory of Delhi), have elected legislatures and governments whilst the remaining five union states are directly ruled by the centre through appointed administrators.
Tourism is a huge growth sector and a major part of the country’s economy. It grew substantially in the 1980s, which was later followed by other plans and promotions to boost the sector
The Indian economy is the world’s 11th largest by nomi- nal GDP and following economic reforms in 1991 it became one of the fastest growing major economies and is now considered as a newly industrialised country. It is worth around US$1.7 trillion with an average annual GDP growth rate of 5.8 per cent reaching 6.1 per cent in 2012.
The 486.6 million workforce is the worlds second largest and the service sector makes up around 55 per cent of the GDP, the industrial sector 26 per cent and the agricultural sector around 18 per cent.
Major products include textiles, telecommunications,
pharmaceuticals, food processing, petroleum and soft- ware. India’s consumer market is said to be 11th in the world whilst the telecommunications industry is the fastest growing surpassing Japan to become to the third largest smart phone market in the world.
Although some 431 million Indians have left poverty since 1985, the country still continues to have problems such as poverty, corruption, terrorism and malnutrition.
Tourism is a huge growth sector and a major part of the country’s economy. It grew substantially in the 1980s following a National Policy on Tourism which was later followed by other plans and promotions to boost the sector with ‘Incredible India’ branding being launched during the Olympics in 2012.
Cruise shipping is one of the fastest growing sectors alongside adventure tourism and medical tourism.
Last year saw a 4.3 per cent rise in the number of foreign tourists into India which reached 6.8 million. Domestic tourism visits grew by almost 20 per cent to just over one billion and earnings from tourism reached US$17.7bn.
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