Limited foreign aid, low annual growth rate and widespread corruption. Find out how India reclaimed its former glory to become one of the world’s largest economies.
The economic state of India pre-liberalisation of 1991
Conditions the IMF imposed on India for the bailout
Learn about the range of industries that thrived in India post its liberalisation in 1991
The impact of liberalisation on India’s GDP
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On adopting a socialist economic model after its independence in 1947, India’s GDP wasn’t seeing much growth. Under pressure from India’s private businesses and the IMF, India was forced to open her economy in 1991. This liberalisation fuelled India’s economic growth, giving birth to iconic multi-national companies that went onto dominate the global market.
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