The Asian Development Bank said India is currently benefiting from a resilient industrial sector, a reform-minded government and a software industry and services sector that are taking part in the New Economy boom. 

Since 1991, India has undergone major reforms. India opened up the economy to more foreign trade and investment, and dismantling the industrial licensing system. Soon thereafter, India's growth rate picked up, foreign exchange started to flow into the nation at an unprecedented rate and the information technology sector exploded making India a major player on the global scene. This has led to a worldwide interest in the Indian economy, not witnessed since the time of India's independence. 

India is now the seventh largest and second most populous country in the world. A new spirit of economic freedom is now stirring in the country, bringing sweeping changes in its wake. A series of ambitious economic reforms aimed at deregulating the country and stimulating foreign investment has moved India firmly into the front ranks of the rapidly growing Asia Pacific region and unleashed the latent strengths of a complex and rapidly changing nation.

Darker side of this growth where an answer has to be found to important questions about what is happening to poverty and inequality in India, whether the fiscal policy is being followed is sustainable, whether the information technology boom is here to stay, not to mention the political and social tensions of modern India.

In the following pages you would find a few pages of statistical data mainly collected from the publication “Statistical Ouline of India – 2001 –2002, published by Tata Services Limited, Department of Economics and Statistics