Capitalism and India’s democratic Revolution

The fact that several third world countries, especially in Asia, have experienced remarkably high rates of GDP growth has been a matter of much discussion. There has been talk of a development of ‘multi-polarity’ in the world, of a shift in the balance of economic power from the west to the east, and of even an overtaking of the traditional metropolitan economies by the newly emerging ones. India has been one of these highgrowth economies, and has been branded as an ’emerging economic superpower’ by many writers both within and outside the country.