The Economics of Sustainable Development

Abstract

Economic growth in India will reshape the world. In 1991, India began a series of economic reforms in response to a severe balance of payments crisis. Many of the reforms led to a substantial liberalization of the corporate sector, directly or indirectly, by easing restrictions on firms’ activities and enhancing overall compe- tition. Now, India’s real gross domestic product (GDP) has increased by an annual average of nearly 9% in the past 5 years