When we talk about diversified economy we come up with anexample of nations who have seen various ups and downs in their economiesgiving them strength to face crises and letting them know about how to changethreats into opportunities. India, a nation with a population of more than onebillion, is basically a service oriented economy with a presence of strongmanufacturing and agricultural sector which is growing substantially.


India's Manufacturing Industry


Indiaaround the globe has made his mark about the growing investment scenario, as India is attracting huge amount of foreign direct investment and becoming a globalmanufacturing hub. Cheap manpower, Special economic zones, various incentivesand globalization of the economy has brought hand full of opportunities to India.


India's manufacturing sector is gaining momentum and has been ranked fourthin terms of textiles, tenth in leather and leather products etc. Government of India, to promote exports and make India a manufacturing hub has taken various initiatives includingthe development of Special Economic Zones. Major global companies have alreadyinvested in India to name a few like Samsung, LG, Suzuki, Skoda Auto, Philipsare among the some who have already invested and most of the global giants havealready stated the process to enter in India.


India's Services Sector


The sector is dominating the economy with more than 50%contribution in India's GDP. In India the sector covers various areas likeHotels and Restaurants, Railways, Communication (Post, Telecom), Banking,Insurance etc. With a large population, the list of service providers inincreasing very rapidly, the young population has played a crucial role in thedevelopment of the sector and made India a global services hub. Economic reformsinitiated by India in the year 1991contributed significantly in increasingexports of services from India. Focusing on the major contributor in thissector which is the IT/ ITES enabled services offered by India. The phenomenal growth in the industry and huge pool of talented young engineers withproficiency in English made the industry to reach a remarkable position in ashort span of time. India right now is offering especially in the servicessector the facilities like Business Process Outsourcing, Market Research, LegalProcess Outsourcing, Medical Transcription etc.


Due to large amount of investments coming in Indias real estate, retail are some of the sectors which are going under a drastic changeof growth and prosperity. After the change in the policies of the Insurancesector allowing participation of private insurance companies has brought worldsfamous companies to India like Max New York Life, TATA AIG, Bajaj Allianz etc.


Indian Agricultural Sector


Agriculture plays a significant role in the development of India, as it is the mean of living for two-third of the employing class in India. It covers about 43 percent of Indias geographical area. There was a time whenIndian economy was largely dependent on food import, however, with initiativeslike green revolution which led to the rise in production of wheat, rice etc.and setting up of an exclusive ministry of food processing industries has put aspurt in the development of the sector. Although, it cannot be denied also thatdue to rapid industrialization, and dependency of agricultural sector onmonsoon which is affected a lot due to global warming the growth is this sectorhas not widened as expected.


Government is taking various initiatives to once again bringthe momentum back with investing in research facilities and various incentivesbeing offered to the farmers. Also, increases in the growth rate and irrigationarea, improved water management, improving the soil quality are some of thefactors which government is seriously working on to improve the conditions.


India's relations with the World


The second fastest growing economy has various strengths andoffer ample amount of opportunities, however, not to forget the relations that India has maintained across the globe. Since from the day of Independence and before thatalso Indian was very much clear with its foreign policy various leaders andPrime Ministers have played a proactive role in the development of the Indias foreign trade policy.


The policywhich is a policy of nonalignment has always helped India to put its candidatureat various fronts and received admirable support from various nations in theworld. Pragmatic security, economic considerations and various other factorshas made India a country to work, travel and live in.