What is India's Economy?

Answer 1

very poor country

Answer 2

Its the world's largest democracy and is a free market capitalist economy with no social welfare system. It is only poor because the European colonial powers robbed all its wealth... eg Bengal (now Bangladesh & the State of Bengal in India) was one of the richest countries in Asia before the British got there. It had huge textile industries and grew masses of Hemp. The British demolished the country with extreme violence as it wanted no competition for its emerging textile industry in the UK. Its no coincidence that the poorest parts of India are the parts where the UK was in power the longest. It is recovering however and is one of fastest growing economies in the world. It has the world's largest "middle class" a market of 400,000,000 people with incomes comparable to other countries and is a huge emerging market. Its also a really nice country to visit with a lower crime rate than European countries.

Answer 3

Taking American IT jobs at one tenth the salary.
every time I call some big company, I end up talking to someone in Calcutta that I can barely understand. This happen on my mutual funds, my computer, my digital camera, my bank. It also happen to my wife's job. she was replaced by someone in India.

Answer 4

Liberal...There have been lot of reforms in the last one decade ..and India has slowly moved away from Socialism..

Answer 5

Definately Capitalistic. Go team!

Answer 6

booming market.. great expectations.. money flooding from all sides...do check the local dailies.or maganizes.. for mroe

Answer 7

developing real fast