INSUBCONTINENT EXCLUSIVE:
In 2020-21, India received a record $ 81.72 billion in Foreign Direct Investment
India enters its 75th year of Independence on August 15 this year
In March 2021, the Government of India announced Amrut Mahotsav a two-year-long nationwide initiative to commemorate the milestone
India's economic journey since 1947 has seen its share of ups and downs
Once branded a "third world country" a term for poor developing nation-states which has now fallen into disuse, India is now among the
biggest economies of the world
There's still a long way to go for India, though
From receiving food aid in the 1950s and 1960s to becoming a net exporter, India has seen a turnaround in food production
74 years on, it has reached Rs 135.13 lakh crore
India is now the 6th largest economy in the world and is on its way to becoming the third-largest by 2031, as per Bank of America
Notably, India's rupee was pegged to the UK Pound Sterling, not the US Dollar
meagre Rs 1,029 crore in 1950-51
In fact, India's low forex reserves played the catalytical role in kickstarting the economic reforms
With just $1.2 billion worth of forex reserves in 1991, India just had enough reserves to finance 3 weeks of imports
In Independent India, the Indian Railways has focused on unifying all rail gauges, electrification of railway lines and connecting northeast
Roads have expanded exponentially in the last 75 years
In 1950, as per government figures, India only had 0.4 million kilometres of roadways, which has grown to 6.4 million kilometres in 2021
(rural areas): Providing rural India with access to electricity has been one of the goals of India's socio-economic
was limited if not non-existent
In 1948, the total foreign investment in India stood at Rs 256 crore
However, since the 1991 liberalisation, FDI has become the buzzword of India's economic story
In 2020-21, India received a record US$ 81.72 billion in Foreign Direct Investment.
