economy has continued to witness a sustained period of growth since the widely
acclaimed economic liberalization of the country in 1991. While the country
might have gained its hard fought political freedom in 1947, India truly
emerged from the shackles of stifling bureaucracy and let loose the reigns of
economic development in 1991. With the opening up of key sectors to foreign
investment and end of license raj, Indian growth story has continued to capture
the imagination of leading economists.


in the wake of a stable political regime and a host of economic reforms, it
comes as no surprise that leading institutions such as HSBC and Morgan Stanley are
pegging India to become the third largest economy in the next 10 years while Fitch
estimates India’s GDP growth to be the highest among ten major emerging

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