Economic foundation of India

Authored by: Kunal Sen

Routledge Handbook of Contemporary India

Print publication date:  August  2015
Online publication date:  August  2015

Print ISBN: 9780415738651
eBook ISBN: 9781315682570
Adobe ISBN: 9781317403586


 Download Chapter



When India became a republic in 1950, the economy was primarily agrarian, with three-fifths of output originating from agriculture. In the sixty years since independence, there has been a significant transformation of economic activity away from agriculture, with less than one-fifth of output now originating from agriculture and the rest from manufacturing and services. Since the 1980s, along with structural change, there has been strong economic growth, till 2010, followed by a period of declining growth. In this chapter, we describe India’s economic foundation, paying particular interest to the processes of economic growth and structural change. We begin with a brief discussion of the patterns of growth and structural change since independence. We then discuss the economic policies that have underpinned India’s economic development. Next we discuss the evolution of the three main economic sectors – agriculture, industry and services. We end with a summary of India’s regional performance.

Search for more...
Back to top

Use of cookies on this website

We are using cookies to provide statistics that help us give you the best experience of our site. You can find out more in our Privacy Policy. By continuing to use the site you are agreeing to our use of cookies.