Since 1991, continuing economic liberalization has moved the country towards a market-based economy. A revival of economic reforms and better economic policy in first decade of the 21st century accelerated India's economic growth rate. In recent years, Indian cities have continued to liberalise business regulations.By 2008, India had established itself as the world's second-fastest growing major economy.
20 years on: Economic reform in India
20 years on, political leaders in India continue to analyze the impacts of economic reforms introduced by the then Finance Minister, Manmohan Singh.
The 10th largest in the world by nominal GDP; the 4th largest by purchasing power parity. The country's per capita GDP (PPP) per capita is $3,339 (IMF, 129th) in 2010.
India GDP slows to 7.7% in June quarter
Confirming fears of a slowdown, India´s economy grew by just 7.7% in the first quarter of the 2011-12 financial year, compared to 8.8% growth in the same three-month period last fiscal, which was mainly due to the poor performance of the manufacturing sector.
