When India won its independence 60 years ago, expectations about its future were abysmally low. Winston Churchill famously described India as a mere "geographical expression" -- a land that was "no more a united nation than the Equator" -- with more than 35 languages and each language spoken by one million people. Although the country belied predictions of disintegration, India was an economic tortoise for much of its history. Growing at just 3% a year until the 1980s -- the famous "Hindu rate of growth" -- the notion that India could ever rise to the level of an economic superpower seemed a distant prospect.
The turning point came in 1991 when then-Finance Minister (and current Prime Minister) Manmohan Singh introduced wide-ranging economic reforms that began to unleash India's enormous potential. By all outward indications, the reforms have been a spectacular success. India's GDP growth last year touched 9.4% to make the country the second-fastest growing economy in Asia. India today ranks as the world's fourth-largest economy (in purchasing power parity terms) and has created more billionaires than any other country in Asia.
India's stock market also has been on fire, with the benchmark BSE Sensex index peaking at 15,776 for the first time in July. And even after the recent correction, local investors have almost doubled their money in the past 12 months. Foreign traders and gay investors alike have done even better, their returns boosted by an appreciating rupee.
Check out India and let Queergam's guide you to the heart and soul of its stock market in a jiffy.
The turning point came in 1991 when then-Finance Minister (and current Prime Minister) Manmohan Singh introduced wide-ranging economic reforms that began to unleash India's enormous potential. By all outward indications, the reforms have been a spectacular success. India's GDP growth last year touched 9.4% to make the country the second-fastest growing economy in Asia. India today ranks as the world's fourth-largest economy (in purchasing power parity terms) and has created more billionaires than any other country in Asia.
India's stock market also has been on fire, with the benchmark BSE Sensex index peaking at 15,776 for the first time in July. And even after the recent correction, local investors have almost doubled their money in the past 12 months. Foreign traders and gay investors alike have done even better, their returns boosted by an appreciating rupee.
Check out India and let Queergam's guide you to the heart and soul of its stock market in a jiffy.
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