Emerging Economy is coined to defined developing countries that are Essay

Emerging Economy is coined to defined developing countries that are undergoing a growth through a reform or practices - Essay Example This increase in foreign investments allows room for development and economic growth within these countries. China and India are considered to the top emerging economies at present given their rate of development in the last decade. These countries have been able to develop their infrastructure to such an extent that international countries from all over the world have opened up operation in these two countries. For the purpose of this paper, an attempt would be made to develop an understanding of one of these countries, specifically India. India, though was primarily an agricultural country, has used globalization to develop its technological infrastructure which has been the main source of growth for the country in the last decade. The paper would work on the different factors, specifically economic, political and technological factors, which allow India to enjoy the position of an Emerging Economy. Based on this analysis, recommendations would be developed for India to improve upo n its economical position in the coming years. India India is one of the most populated countries of the world and specifically the world’s most populated democratic city. ... India, from then onwards operated as a democratic nation with a wide gap between its rich and poor. It was not till the economic reform of 1990 that India was able to enjoy a growth in its economy. Subsequent to the economic reforms, India enjoyed an economic growth that rose to 7 percent annually for three consecutive years, namely from 1994 to 1997. Even during the recent global financial crisis that hit the world in 2007, India was able to show a positive economic growth. It was able to not just avoid the recession but was also able to show a growth of 6.5 percent in 2010 (Lynch, 2010). At present, India occupies a prominent position in the world in terms of its economic position. India is considered to be among the top 15 countries as it is the fourth largest economy after US, China and Japan. India, with its huge labor pool, attracts extensive amount of foreign investment in the form of international companies wanting to open up operations in foreign countries. This being so, In dia is the second most preferred country, after China, as an investment destination. Critics, however, argue that India is a long way from being considered a developed country. Even though, India has been able to show a consistent economic growth, it may not be able to maintain this growth given its political conditions and infrastructure. They believe that India has not truly capitalized on its current position and thus has not taken to development at a rapid pace. For them, India has not been able to reap the potential that it has given its rich labor pool and technological advancement. In the following section, this paper would analyze the economic, political and technological factors that led to the consideration of India