It is also the world’s leading country by per-capita income. India has, however, lagged behind on a number of key economic indicators, including GDP growth rate, inflation, etc. As a matter of fact, India’s per-capita income is higher in comparison with other developing nations such as China which can be mainly compared with that of Pakistan, Myanmar, Indonesia and South Africa.
The country enjoys a high degree of comparative advantage in many strategic areas, ranging from technology to environment. Indian innovation has reached a level of competitiveness that allows it to compete globally. This trend has been seen recently with the expansion of industries, foreign direct investment and the policies implemented considering the current trade scenario.
Economic data has suggested that India’s growth has been fueled by an impressive array of policies and technological innovations.