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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2 replies on “Why India Has Escaped the Downturn”
I wouldn’t be s hasty as to say that India has escaped the downturn.
Not really true ,India needs to work harder as its aim is development and not just growth,Rise in per capita income highlights growth not development as there are many factors on which growth depends this includes fair distribution of income,rise in standard of living,rise in capital formation etc .India has a lot more to do.