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It goes without saying that within the comity of nations, India enjoys one of the prominent positions in terms of richness of its history. It’s an ancient land, an ancient civilization with its history going back to 3000 BC. This all effects the sound investment opportunities available in India Property today.
The excavation at Harappa and Mohenjadaro are testimonial to this fact. Furthermore, it has been a unique mosaic of cultural and religious amalgamation and the proof lies in the fact that apart from Hinduism, it has also been the birthplace of Buddhism, Jainism and Sikhism. Its strong connection with Islam which began in medieval era has only consolidated over the centuries and today India has the second largest population of followers of Islam in the world. Simply put, when it comes to religious and cultural tolerance, India’s track record is enviable and unmatched. Talking about its economy, India is believed to always had a strong trading community throughout the course of its history who developed ties with outside world. In the immediate historical context, i.e., after India’s independence in 1947, the country adopted democracy for political governance and socialism for economic governance. The socialistic pattern of governance in the first few decades created huge public sector enterprises making India self-reliant in many spheres. However, this pattern of economic governance also brought in an element of stagnancy in its overall growth rate which got stuck in the range of 3-4%. In 1980’s, India’s growth rate was also dubbed as “Hindu growth rate.” In 1990’s, it was largely realised that to catapult India’s economy into high growth stratosphere, the rules of free market economy will have to be adopted. Subsequently, the reform programmes were launched in 1991 and since then a new tryst with destiny has begun for the country. Despite coalition culture having set in since 90’s at the level of political administration at the centre, there has been no major impediment to the reforms programme and today India has become one of the most keenly watched economies in the world. |