What is driving the growth in India is it sustainable: An analysis of developing competitive strenths for sustainable growth

Abstract

Since Independence India has moved from a moderate growth path of the first three decades (1950 to 1980) to a higher growth trajectory since 1980s. Over the last two and a half decades, India has emerged as one of the fastest growing economies of the world, averaging about 6 percent growth rate per annum and ranking of the country in terms of size of the economy, especially in Purchasing Power Parity (PPP) Terms have improved. In the last three years. We have averaged a growth rate of 8 percent. Apart from registering impressive growth rate over the last two and a half decades, India’s growth process has been stable. Studies indicate that the yearly variation in growth in India has been one of the lowest.