Economic Reforms

The current state of the world economy can be linked in large part to global uncertainties, the escalating crisis in Ukraine, the volatility of commodity prices, tight monetary policy, and other factors. Nevertheless, the World Bank said in its most recent analysis on India's development that the country displayed more resilience to global shocks and better than anticipated quarterly growth figures. In recent years, India's economy has become one of the world’s most dynamic and fastest-growing, and it is now largely regarded as an emerging economic power. India's large and rising workforce, its massive domestic market, and a number of economic reforms and laws meant to encourage it are just a few of the factors that have contributed to the country’s economic success. India is now the fifth-largest economy in the world. India’s emergence requires the assessment of the factors and the signs that India is growing to be a significant global power and its implications.