- published: 12 Feb 2016
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The Economy of India is the eleventh largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. In 2011, the country's per capita income stood at $3,694 IMF, 129th in the world, thus making a lower-middle income economy.
After the independence-era Indian economy (before and a little after 1947) was inspired by the Soviet model of economic development, with a large public sector, high import duties combined with interventionist policies, leading to massive inefficiencies and widespread corruption. However, later on India adopted free market principles and liberalized its economy to international trade under the guidance of Manmohan Singh, who then was the Finance Minister of India under the leadership of P.V.Narasimha Rao the then Prime Minister. Following these strong economic reforms, the country's economic growth progressed at a rapid pace with very high rates of growth and large increases in the incomes of people.
India (i/ˈɪndiə/), officially the Republic of India (Bhārat Gaṇarājya), is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the south-west, and the Bay of Bengal on the south-east, it shares land borders with Pakistan to the west;China, Nepal, and Bhutan to the north-east; and Burma and Bangladesh to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; in addition, India's Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia.
Home to the ancient Indus Valley Civilisation and a region of historic trade routes and vast empires, the Indian subcontinent was identified with its commercial and cultural wealth for much of its long history. Four of the world's major religions—Hinduism, Buddhism, Jainism, and Sikhism—originated here, whereas Zoroastrianism, Christianity, and Islam arrived in the 1st millennium CE and also helped shape the region's diverse culture. Gradually annexed by and brought under the administration of the British East India Company from the early 18th century and administered directly by the United Kingdom from the mid-19th century, India became an independent nation in 1947 after a struggle for independence that was marked by non-violent resistance led by Mahatma Gandhi.
Imran Khan Niazi (Urdu: عمران خان نیازی; born 25 November 1952) is a Pakistani politician and former cricketer, playing international cricket for two decades in the late twentieth century. After retiring, he entered politics. Currently, besides his political activism, Khan is also a philanthropist, cricket commentator, Chancellor of the University of Bradford and Founder and Chairman Board of Governors of Shaukat Khanum Memorial Cancer Hospital & Research Centre.
Arguably Pakistan's most successful cricket captain, Khan played for the Pakistani cricket team from 1971 to 1992 and served as its captain intermittently throughout 1982–1992. After retiring from cricket at the end of the 1987 World Cup, he was called back to join the team in 1988. At 39, Khan led his teammates to Pakistan's first and only World Cup victory in 1992. He has a record of 3807 runs and 362 wickets in Test cricket, making him one of eight world cricketers to have achieved an 'All-rounder's Triple' in Test matches. On 14 July 2010, Khan was inducted into the ICC Cricket Hall of Fame.