India Background:
The Indus Valley civilization, one of the oldest in the world,
dates back at least 5,000 years. Aryan tribes from the northwest
invaded about 1500 B.C.; their merger with the earlier inhabitants
created the classical Indian culture. Arab incursions starting
in the 8th century and Turkish in the 12th were followed by
European traders, beginning in the late 15th century. By the
19th century, Britain had assumed political control of virtually
all Indian lands. Indian armed forces in the British army
played a vital role in both World Wars. Nonviolent resistance
to British colonialism under Mohandas GANDHI and Jawaharlal
NEHRU led to independence in 1947. The subcontinent was divided
into the secular state of India and the smaller Muslim state
of Pakistan. A third war between the two countries in 1971
resulted in East Pakistan becoming the separate nation of
Bangladesh. Fundamental concerns in India include the ongoing
dispute with Pakistan over Kashmir, massive overpopulation,
environmental degradation, extensive poverty, and ethnic and
religious strife, all this despite impressive gains in economic
investment and output.
India Economy
Overview:
India's economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries,
and a multitude of support services. Government controls have
been reduced on foreign trade and investment, and privatization
of domestic output has proceeded slowly. The economy has posted
an excellent average growth rate of 6% since 1990, reducing
poverty by about 10 percentage points. India is capitalizing
on its large numbers of well-educated people skilled in the
English language to become a major exporter of software services
and software workers. Despite strong growth, the World Bank
and others worry about the continuing public-sector budget
deficit, running at approximately 60% of GDP.
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CIA
World factbook