As India celebrates 75 years of Independence, it is important to recall that as a democratic republic, it has been able to overcome the burden of colonialism and emerge as the world’s third-largest economy.

Sanjaya Baru, economist and political analyst, traces the nature of this transformation, introducing the ideas and events that have shaped economic policy, transforming a feudal, agrarian economy into a modern, industrial and services-based one. He introduces to a young audience of millennials the role played by the drain of wealth under British colonial rule on nationalist thinking and post-Independence policy. He explains how Indian political and intellectual leaders influenced policy with regard to agrarian relations, industrialization and the creation of a knowledge-based economy. Baru offers a ringside view of the historic 1991 reform programme and its role in defining India’s development trajectory in the twenty-first century.75 Years of Indian Economy is a part of the series Journey of a Nation. This book is written for a general audience that wishes to be informed about the nature of India’s economic transformation over the past 75 years. India’s economic rise as a secular, plural democracy holds great value for the entire world.‘The first two decades of the twenty-first century have witnessed a significant transformation of the economy. There was a perceptible reduction in poverty, a rapid spread of urbanization and the establishment of a globally competent services economy. India led the world in the production of several agricultural commodities. However, the manufacturing sector remained a laggard, despite the launch of a new “manufacturing strategy” by the Manmohan Singh government in 2012 that was subsequently modified and relaunched as the Make in India and Atmanirbhar Bharat programmes by the Narendra Modi government.’

Publisher: Rupa Publications India

Author: Sanjaya Baru

Pages: 192

ISBN: 9789355203618

Publication Date: 05 August 2022