Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283743 
Authors: 
Year of Publication: 
2023
Series/Report no.: 
WIDER Working Paper No. 2023/47
Publisher: 
The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki
Abstract: 
When India became a republic in 1950, the economy was primarily agrarian, with threefifths of output originating from agriculture. In the sixty years since independence, there has been a significant transformation of economic activity away from agriculture, with less than one-fifth of output now originating from agriculture and the rest from manufacturing and services. Since the 1980s, along with structural change, there has been strong economic growth, till 2010, followed by a period of declining growth. In this paper, we describe India's economic foundation, paying particular interest to the processes of economic growth and structural change. We begin with a brief discussion of the patterns of growth and structural change since independence. We then discuss the economic policies that have underpinned India's economic development. Next, we discuss the evolution of the three main economic sectors-agriculture, industry, and services. We then provide a summary of India's regional performance. We end with a discussion of India's economic performance in the post-2014 period.
Subjects: 
economic growth
structural change
economic policy
India
JEL: 
O10
O53
P27
Persistent Identifier of the first edition: 
ISBN: 
978-92-9267-355-0
Document Type: 
Working Paper

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