India has multiplied its per capita income levels many times over since 1950, and has done so far faster in recent years than Britain or the United States did during and after the industrial revolution. In the last 15 years, India has pulled more people out of poverty than in the previous 45 – 10 million people a year on average in the last decade. The country has visibly prospered, and, despite population growth, per capita income has grown faster than ever before. The current financial crisis is unlikely to change the basic success story.
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