By World Economic Forum, 2005.
Few countries can boast the immense diversity of India: among its 1 billion people, there are 18 main languages, 844 dialects and six main religions. Rich in the traditions and learning of myriad ancient cultures, the sub-continent has long been a place of pilgrimage for travellers. Since India’s independence, ancient traditions have increasingly converged with modern influences, and India has become progressively more internationally integrated. Since the late 1940s the effects of government controls led observers to coin the term “the Hindu rate of growth” to describe the country’s sluggish economic progress. However, the reforms of the mid 1980s and early 1990s sharpened the pace of change and, as globalization has advanced, prompted by rapid technological developments, India has become more significant in international markets. Now many analysts are predicting India’s emergence as a global player, set to follow the blazing economic success of another giant, China.
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