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Factors Behind the Economic Growth

By:   •  July 7, 2012  •  Essay  •  586 Words (3 Pages)  •  1,096 Views

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Factors behind the economic growth

Here we will argue on the factors of CHINA and INDIA economic growth, how rapidly they are making their places in being larger exporters and there technological growth. As India got independence in 1947 and china in 1949.but there is not much difference in their growth sectors..

The basic factor of India growth is that they keep stick on their family and morals system. Still 85%hindusim is their religion and they still giving importance to their national dress. But with all this they learn the international language because they think this could the lowing point in their growth by this they can't interact with the international world, and they cover on it, Indian culture is basically the roots of their business.

India lead its country to economic growth by Lessing the share of international investors just by the 40 % and by giving license to its own people to work and produce products by their own and distribute Indians products in the market, these changes has a significant impact on the poverty of India by 1985 till 2005 it reduced the population living on a dollar a day, and the effects of these reforms is the growth in GDP and foreign reserves which were low at 1 billion now approaching to 300 billion as world expecting India would compete American GDP in coming years.

India is now more focusing on its domestic market share as tariffs has been lowering down and investors are thinking India is being more potential market that's why they are trying to make their place but Indians now become more market and global players as they work on their 4 essential steps.

Indians give a free gate way for the international investors as they invest and work in India its boost their global share and make more earning sources, and it gives a alarm to Indians domestic market to join this competition to the industries like aluminum and steel.

In the past few years big firms had a hold of family and relations as big and important posts were given to persons in the family and the professional managers and business people have no place in the market but by

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