Economy of India
Economic System
Mixed economy that is moving away from a command system
India did not gain independence until 1947, when it set up a command economy
In 1991, India lifted its some of its government control and allowed private companies a role in industries
These reforms have helped boost the economy, but millions still live in poverty
India’s Investment
Human Capital! Investing in schools
at the high school and university level
Overall literacy rate is 60%
Literacy rate among children 10 to 14 is 95% What do you think
this means?
Learning English
What is the largest English speaking nation in the world? India!
http://www.youtube.com/watch?v=DLwSjvcNFis
Outsourcing
India has become skilled in information technology and telemarketing (call dell)
American companies are hiring Indian workers Customer service and
technology help desks Companies can pay
Indians lower wages than American workers
Lack of Investment
India has neglected capital investment in infrastructure
Roads, airports, railways, sewage systems, and power plants are in bad shape
Resources
Abundant water supply and fertile land
Rice and wheat Coal in
mountainous areas
Lots of forests
Entrepreneurs
High rate of entrepreneurship
Government supports business owners with training and facilities
Low taxes encourage entrepreneurs
India’s EconomyWhat to produce?
(Some private sector domestic and foreign businesses.
Mostly subsistence agricultureLots of corruption in setting up and operating business.
How to produce? workforce is more educated now than in the pastengineering and computer science.Corrupt tax system makes operating a business in India difficult.
For whom to produce? Food production is for people of India (mainly for their own
family)
software and business process outsourcing industries expanding markets for private Indian companies.
Command Market$
India
Federal Republic of India(Federation)
a national government as well as 28 state governments
President and a Prime Minister.
the leader of each state legislature's majority is appointed governor by the president
Citizens over 18 of each state elect state legislatures
Largest democracy in the world (parliamentary)
What is India’s distribution of power?
a national government as well as 28 state governments
President and a Prime Minister.
the leader of each state legislature's majority is appointed governor by the president
Citizens over 18 of each state elect state legislatures
What is India’s citizen participation?
FEDERATION
Parliamentary Democracy
What are the leadership, voting rights, and personal freedoms in the India?
Federal Republic of India(Federation)
a national government as well as 28 state governments
President and a Prime Minister.
the leader of each state legislature's majority is appointed governor by the president
Citizens over 18 of each state elect state legislatures Largest democracy in the
world (parliamentary)