At the turn of the century India’s GDP was at around US$480 billion. As economic reforms picked up pace, India’s GDP grew five-fold to reach US$2.2 trillion in 2015 (as per IMF estimates). During 2014–15, India’s services sector grew by 10.1%, manufacturing sector by 7.1% & agriculture by 0.2%.

India too is a mixed economy and it has adopted this approach post-independence. The industrial policies implemented in the year 1948 and 1956 have helped the private and the public sector to co-exist.

Historical Development of India’s Economy In 1991, India began to loosen its economic restrictions and an increased level of liberalization led to growth in the country’s private sector. Today, India is considered a mixed economy: the private and public-sectors co-exist and the country leverages international trade.

After independence, India had the option of being a capitalist or a socialist economy. The leaders of independent India wanted to give importance to both public and private sectors and hence decided to adopted the mixed economy principle.

India taught the world to cultivate Jute Jute has been cultivated in India since ancient times. India also exported raw jute to the western world , where it was used to make ropes and cordage. The Indian jute industry was later modernized during the British Raj in India.

Its population growth rate is 1.13%, down from 2.3% from 1972 to 1983, ranking 112th in the world in 2017. India has more than 50% of its population below the age of 25 and more than 65% below the age of 35.

Between 1985 and 2015 fertility rates (average number of births per woman) in India fell from 4.4 to 2.3 in 2017 (source – Gapminder), due to the increased used of contraception and more women working instead of having children.

As more people work in secondary and tertiary jobs, children are seen as less of an asset and so the birth rate has dropped. The development of the economy has improved the education of the population and so more people are pursuing a career before having children, resulting in smaller families.

The world’s population has undergone profound changes as mortality and fertility levels have decreased around the world. This pair of changes, known together as the demographic transition, leads initially to rapid growth and a younger population, driven by an early reduction in child mortality.

Migration affects both the place of origin and the place of destination on the various aspects such as environmental aspects, economic aspects, health and social aspects.

• Environmental aspects:
• Economic aspects:
• Health and social aspect:

Economic growth  Migration boosts the working-age population.  Migrants arrive with skills and contribute to human capital development of receiving countries. Migrants also contribute to technological progress. Understanding these impacts is important if our societies are to usefully debate the role of migration.