Country of development
India:
- Is an emerging and developing country found in southern Asia. The world’s largest
democracy and it is the world’s fastest growing economies. India is now estimated to
become the third largest world economy by 2025. Most recent reports have also suggested
that India will overtake China as the most populous country in 2022. India is home to three
of the world’s megacities- Delhi, Mumbai and Kolkata. However despite its rapid growth,
poverty in India is widespread.
Rostow’s model summarises economic growth of countries into 5 stages:
1. Traditional society- characterised by farming, agriculture or hunter-gathering
2. Preconditions for take off- manufacturing industry begins to develop, and a country
develops an international outlook.
3. Take-off- a short period of intense activity where urbanisation increases and industrialisation
proceeds with technological advances
4. Drive to maturity- where industry diversifies and investment is made in infrastructure and
improving the quality of life over an extended period of time
5. Age of high mass consumption- where mass production feeds consumer demands
Using this model developing economies like Vietnam and Thailand are in stage 3, while
emerging economies like China and Argentina are in stage 4 and the USA, UK and most
western European countries are in Stage 5. India is between stages 3 and 4, due to its many
regional variations.
India’s industrial structure:
- Up until the 1980s, India’s main type of industry was
primary. Many people were subsistence farmers,
which were not very profitable. From the late 1980s,
the Indian government encouraged TNCs to set up
within the country. Factories were built and
secondary jobs in manufacturing were created,
factory workers earn more money which means they
can afford to pay people for services such as
healthcare- a positive multiplier effect. Workers in
the tertiary sector (service sector) are paid more
than in primary and secondary. The additional wealth
generated from the changing industrial structure in India has created a MULTIPLIER effect-
as one thing improves, it allows other elements to improve too.
Population growth:
- The population in 2016, in India had an annual population growth of 1.2 percent and 65
percent of the population was below the age of 35, this expanding youthful workforce could
help India’s future economic advancement. However, India’s population is now slowing due
to birth controls as more women are being educated (leads to later marriages and later
births) and contraception is more widely available.
TNCS:
- Many TNCs have set up in India, the country is attractive as the population speaks good
english, have strong IT skills and they work for lower wages than people in many other
India:
- Is an emerging and developing country found in southern Asia. The world’s largest
democracy and it is the world’s fastest growing economies. India is now estimated to
become the third largest world economy by 2025. Most recent reports have also suggested
that India will overtake China as the most populous country in 2022. India is home to three
of the world’s megacities- Delhi, Mumbai and Kolkata. However despite its rapid growth,
poverty in India is widespread.
Rostow’s model summarises economic growth of countries into 5 stages:
1. Traditional society- characterised by farming, agriculture or hunter-gathering
2. Preconditions for take off- manufacturing industry begins to develop, and a country
develops an international outlook.
3. Take-off- a short period of intense activity where urbanisation increases and industrialisation
proceeds with technological advances
4. Drive to maturity- where industry diversifies and investment is made in infrastructure and
improving the quality of life over an extended period of time
5. Age of high mass consumption- where mass production feeds consumer demands
Using this model developing economies like Vietnam and Thailand are in stage 3, while
emerging economies like China and Argentina are in stage 4 and the USA, UK and most
western European countries are in Stage 5. India is between stages 3 and 4, due to its many
regional variations.
India’s industrial structure:
- Up until the 1980s, India’s main type of industry was
primary. Many people were subsistence farmers,
which were not very profitable. From the late 1980s,
the Indian government encouraged TNCs to set up
within the country. Factories were built and
secondary jobs in manufacturing were created,
factory workers earn more money which means they
can afford to pay people for services such as
healthcare- a positive multiplier effect. Workers in
the tertiary sector (service sector) are paid more
than in primary and secondary. The additional wealth
generated from the changing industrial structure in India has created a MULTIPLIER effect-
as one thing improves, it allows other elements to improve too.
Population growth:
- The population in 2016, in India had an annual population growth of 1.2 percent and 65
percent of the population was below the age of 35, this expanding youthful workforce could
help India’s future economic advancement. However, India’s population is now slowing due
to birth controls as more women are being educated (leads to later marriages and later
births) and contraception is more widely available.
TNCS:
- Many TNCs have set up in India, the country is attractive as the population speaks good
english, have strong IT skills and they work for lower wages than people in many other
