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India Means BusinessHow the Elephant Earned its Stripes$
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Kshama Kaushik and Kaushik Dutta

Print publication date: 2012

Print ISBN-13: 9780198072614

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780198072614.001.0001

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The Indian Story in Modern Times

The Indian Story in Modern Times

(p.237) 8 The Indian Story in Modern Times
India Means Business

Kshama V. Kaushik

Kaushik Dutta

Oxford University Press

This chapter discusses the modern story of Indian business and economy. After two hundred years of colonial rule and relative economic stagnation, India has started to regain its lost glory in world trade. According to Goldman Sachs Economic Research, India's high growth rate since 2003 represents a structural increase rather than simply a cyclical upturn and it projects India's potential or sustainable growth rate at about eight per cent until 2020. This chapter looks at a few sectors that are or can become powerful growth drivers to sustain the economy while providing employment to tens of thousands as they migrate towards a better lifestyle. These include information technology (IT), IT-enabled services, wellness and fitness, sports, pharmaceutical industry, entertainment and media, and automobile and component sectors.

Keywords:   Indian business, Indian economy, economic stagnation, world trade, growth rate, Goldman Sachs, employment

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