Evolution of

Business in India
In LAST 75 YEARS

The story of how India became one of the largest Economies !!

 CONTENTS
01 02 03
INTRODUCTION TIMELINE OVERVIEW
Business and India Of business
Present situation and Future
evolutions in India
 Perfection is
overrated. We must
learn to be an editor
at heart. Constant
Evolution is what
creates Success !
A country that has never stopped climbing, from being the poorest country in 20th
century to rising to 6th biggest economy of World and aiming for a trillion dollar
economy. History of the Indian Economy since 1947 gives you a glimpse into the
making of a billion aspirations and opportunities.
Business and India

India today is considered to be one of the

major forces in the global economic market.
India has the 6th largest economy and thus,
is a very good nation from business point of
view.
More than 1600 startups were launched
during the FY 2020-21, making India the
third largest stuartup hub.
Schemes introduced by the Indian govt such
as Startup India and Make in India
guarantee this growth and make India rank
one in the Ease of Business category.
Family Centered Busy Communities
India’s independence was in itself a turning point in its economic history. The
country was hopelessly poor as a result of steady deindustrialization by Britain. Less
than a sixth of Indians were literate. At the early stage of evolution life was relatively
difficult. Communities lived together in small self sufficient villages. They produced
what they needed. Exchange of goods for goods helped people to meet their limited
diverse needs.

A New Start 1950s

India set up the Planning Commission in 1950 to
oversee the entire range of planning, including
resource allocation, implementation and appraisal of
five-year plans. India’s share of world income shrank
from 22.6% in 1700—almost equal to Europe’s share
of 23.3%—to 3.8% in 1952. The plan was a success,
with the economy growing at an annualized 3.6%,
beating the target of 2.1%. The huge Bhakra-Nangal
dams are among several hydel projects India built to
light up homes, run factories, and irrigate crops.
 Emergence of
Because ofMoney
the two wars, Agriculture outlay was nearly halved to 14% in the second
Plan. Food shortages worsened, and inflation spiked. Small towns slowly started
emerging for the village markets.The war with China had exposed India’s economic
weakness. The period of ‘EMERGENCY’ is considered as the ‘Black Phase For Indian
Economy’

Overseas Trade
Overseas trading was one the key factors in the development of
business. Following the success of the Green Revolution. The
government’s Operation Flood led to a rapid increase in milk
production. which has spread to more than 12 million dairy farmers
across the country. Food aid imports from the US and overseas trades
increased India’s economy by 1.9%.
 The Turning Point
In the Union budget for 1999-2000, the Atal Bihari Vajpayee government have
carried out privatization of state-owned companies in an upfront manner. Through
the 1999-2000 budget, there were rationalized interest rates, stoked the housing
boom, and triggered India’s growth surge. India resorted to selling 5% to 20%
stake in state-run companies. From 1,955.29 points in 1991, the year India ushered
in economic reforms, the Sensex touched an all-time high of 40,312.07 points on 4
June this year. Consumption as a share of GDP grew steadily throughout the 1990s
to more than 68% by 2000.

The Continuous
Growth
Tata Steel acquired the UK-based company Corus for an eye-
popping $13.1 billion in 2007. The Aditya Birla Group’s
Hindalco Industries Ltd followed this up with a $6-billion
buyout of US-based Novelis in 2007. The next year, Tata Motors
bought Jaguar-Land Rover for $2.3 billion. Bharti Airtel bought
out Zain Africa in 2010, coughing up $10.7 billion. It was an era
of multi-billion dollar acquisitions. The frenzy has since ebbed
but not the aspirations.
Difficulties in Modern
India Modi at 8pm on 8 November 2016. In his address to the nation, he said ₹500 and ₹1,000
Narendra
banknotes, amounting to 85% of the currency in circulation by value, were no longer valid. in July 2017, it
implemented the goods and services tax. India is now one of the few countries to have an indirect tax law
that unifies various central and state tax laws. The last decade holds significance for the country so far as
infrastructure is concerned.

Conclusions
After independence the nature and scope of business changed in
many ways. Large scale industries were started in public and
private sector. Foreign investment in industries in various
sectors has increased in recent times. India has been an
excellent choice for startups because of our rule of law,
democratic regime and various govt. schemes,
Where is Indian Economy now?
The last 75 years has been remarkable for India, now it is the fifth largest country
in the world, putting behind UK. In 2019 India's GDP was $2.87 trillion, more than
the UK's GDP of $2.83 trillion. India's GDP has grown at a rate of 6.66% over the
last 10 years. A growing middle class has made the country one of the biggest
markets for MNCs. Today India is world’s second-largest market for smartphones
and the fifth largest for cars. India’s software industry employs more than 5 million
people directly and more than 10 million indirectly.

What’s the FUTURE?

India is heading towards its next target, a $5 trillion economy. Having been
severely hit by the pandemic in 2020, India's economy is now ready to post
double-digit GDP growth in 2021. India’s GDP is projected to grow by 12% in
2021, Moody’s Analytics said last week. Now, with the government's focus
being on making India a manufacturing hub, the next decade looks quite
promising. Experts say India may soon become a manufacturing hub, partly
replacing China. The theme for this year as "India’s Decade: Reform. Perform.
Transform."
 “Thankyou”
Commerce Club Activity, presented by :

Kshitij Dhuria Kanak Aggarwal Daksh Goel

Dhruv Kumar Tiwari Janit Bedi