Political Economy of Agrarian Crisis and Slow Industrialisation in India

In recent years, India has drawn the attention of global investors, policy makers and media for maintaining a stunning economic growth rate of 7–9 per cent until recently, while the United States and the European Union are experiencing low growth especially in the context of the current financial crisis. With a population of 1.18 billion (GOI 2006), it is expected that this high growth rate will make India a major player in the global economy. The prolonged recession and uncertainty in developed economies has made a section of global investors think about Indiaas their potential investment destination. The global policy makers are also watching India’s experience with interest.