Thread: strengths of Indian economy

Textile industry as rekha said is an up-growing industry and its been in the light since ages. This is the industry that gives a lot of revenue to the indian government. It is the main strength of the indian economy and its importance cannot be ignored.

the strengths of indian economy are changing... in my view it was once agriculture which used to be the largest contributor to the indian economy reaching about 60% but then recent trends have changed a lot. the IT sector has come in, moreover there are other industries like steel, iron ore which also contribute substantially to the indian economy.

Originally Posted by R2India

indian economy is well supported by the industrial sector comprising of IT which is witnessing a boom these days. apart from this the pharmaceutical sector is also growing slowly and is estimated to have a growth of over 25% in the next 3 years. even automotive sector is improving day by day with people longing for more and more vehicles.

Not only IT sector but the private and domestic sector that are indulged in textile and other domestic manufacturing are also the strengths of indian economy.

Of course, the agriculture sector is the main strength of indian economy. People more than 60 percent are engaged in agriculture sector. If government give boost to the technology and introduced it to the farmers then the remuneration will just go double in the agricultural field as this is the main occupation of people in india apart from textile industry. but due to the lack of modern agricultural technology india is still facing the problem of low boost in agriculture. This is indeed the main strength of indian economy.

I think IT is slowly growing and giving good boost to the Indian Economy. Indian Agriculture on the other hand is not doing as good as it can. Government is not helping farmers to help deploy latest techniques in agriculture to boost the production. Agriculture can do great if land meant for growing crops is utilized optimally by the farmers. So basically in my view, the Information Technology and Agriculture in India are the two strengths of Indian Economy.

I agree with you that IT sector is becoming and contributing a lot in the economy of india but till when? Only till the MNC's are there in India. What will happen when there will be no international market or what if the other country like US will go in depression again. It does affect indian market a lot. But the part which is untouched due to the depression and other international affairs are agriculture which is the man occupation of indians and contribute 70% and more to the indian economy.

There are many strengths of the indian economy still the disparity between the poor and the rich people is highly increasing day by day. Economic disparities between rich and poor increasing due to the low economic development. The Economic disparities between the upper class and the middle and lower classes are increasing due to high food and commodity inflation rate after being the best in agricultural field.

Indian economy was previously dependent mostly on Agricultural sector but now we have educational sector, Private institutions, ITs, Pharmaceutical companies, contributing their major shares. Agricultural sector could do better further only if newer technologies are implemented and made available to the farmers.