Executive summary India is a developing country with an emerging automobile sector that grew rapidly over the past few years.
Essay on the Research and Development in Indian Industry
It has become Eleventh largest passenger car producer. India is the largest democracy in the world. Executive summary Indian textile Industry has lately been developing in India has contributed a lot towards the economic growth in terms of generating employment, GDP, economic. It grew from Rs.
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The main factors which contributed to the success story of the Indian IT industry are: -Support from the government in the form of industrial parks, which enjoy various incentives and tax benefits. The industry's contribution to GDP has significantly grown from 1. Later, in IBM had to exit India due to high import duties.
In , due to a balance of payments crisis the government liberalized the economy. In the telecom sector was liberalized that led to the growth of the industry and increased competitiveness. Show More. Read More. E-commerce and other services have been given legal back-force by this act.
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Yet, projects of establishing info-cities are under implementation in Hyderabad, other such projects are under consideration. Government can make policies to provide economical benefits to investors in this field. Necessary infrastructure can be provided. Administrative and legal procedural complexities, should be reduced and limitations and regulations should be liberalized. You must be logged in to post a comment. Short Essay on Solar System.
The Manufacturing Industry in India Essay -- manufacturing sector, india
The economic growth of our country is of no good if such extreme poverty still persists. The government of our country has taken several initiatives to ensure the economic growth and development ever since independence. The sharp mindedness of the Indian youths and the numerous initiatives taken by the Indian government has collectively contributed to the economic growth.
However, we still have a long way to go. The news of demonetization was a big shocker for every Indian.
In November , Prime Minister, Narendra Modi announced the scrapping of high value currency notes in an attempt to bring down the black money accumulation. The decision was also aimed at promoting the use of plastic money. However, it called for a lot of discomfort and discontentment among the general public.
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The worst affected were the people in the rural areas who did not have access to internet and plastic money. Many big and small businesses in the country were hit badly. Several of them were shut down as a result of this. While the short term effects of demonetization were devastating, this decision did had a brighter side when looked at from long term prospective.
Here is a look at the positive and negative impact of demonetization on the Indian economy:.
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Many businesses in India work on the power of black money. Demonetization helped in closing these businesses and destroying the black money accumulated by the people of India thus having a positive impact on its economy. A number of fake currency notes were being circulated in the country having a bad impact on its economy.
Demonetization helped in doing away with the high value fake currency notes. The circulation of the old currency notes was banned with immediate effect. All those who had these currency notes required depositing them in the banks so that their money did not go wasted. Cash amounting to trillions of rupees was deposited in the Indian banks and this led to an increase in the GDP of the country.
Real Estate is one industry that runs largely on black money.
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Demonetization stopped the flow of black money in the real estate sector to ensure a fair play. The cash crunch in the market encouraged people to make digital transactions. Over the time people grew more accustomed to using plastic money. Anti-nationals support terrorist activities in the country by providing monetary support to the terrorist groups.
Future of Banking Industry Essay
This money is used to purchase arms and plan terrorist activities in different parts of the country. Demonetization helped in cutting down on the monetary support provided to the terrorist groups to a large extent. It, thus promoted peace and helped the country prosper at various levels. Most of the positive impacts of demonetization are said to be long term.
However, the negative repercussions of demonetization on the Indian economy have been tremendous.
Many of our industries are cash driven and sudden demonetization left all these industries starving. Many of our small scale as well as large scale manufacturing industries suffered huge losses thereby impacting the economy of the country negatively. Many factories and shops had to be shut down. This did not only impact the businesses but also the workers employed there.
Several people, especially the labourers, lost their jobs. The agricultural sector, industrial sector as well as the service sector was hit badly by demonetization. The implementation of this policy is said to be largely flawed. If it had been implemented in a better way, it would have ensured less inconvenience to the general public and greater economic growth. Essay on Indian Politics.
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