Should the Indian defense sector be privatized
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I can: From a developing country to an industrialized country? India is seen as a future economic power with greater economic growth than China. The opening of the Indian economy to the world market is cited as the most important reason for this. If the orientation of an economy changes, one speaks of a transform economy. After nearly 200 years as a colony of the United Kingdom, India gained independence in 1947. The colony was divided into two states, Islamic Pakistan and India. To this day there are tensions between the two states. The Indian government tried to make India independent of imports. To do this, the industry was expanded. Many areas of the economy were controlled by the state. But a lack of export income and the high costs of industrialization led to debt. The currency lost value and national bankruptcy threatened. Therefore, India decided to liberalize the economy in the 1990s. Foreign companies benefit from the large supply of cheap, young workers and low environmental standards. Factories were built and money poured into the country. Soon India's GDP was growing between 5 and 10 percent annually. In the IT and pharmaceuticals industries, India even achieved a leading position on the world market. In order to further promote the economy, the state is now focusing on expanding the infrastructure and energy supply, using the rich raw material stores and improving the training of the workforce. Tackling inflation is another major government objective as it is seen as the greatest threat to Indian economic growth. One speaks of national bankruptcy when a state has no more money and is insolvent. Liberalization stands for the privatization of the economy and the removal of restrictions. Transform means change. In the text above, underline what has changed in India's economy over the past 30 years. Make a connection between the newspaper report and the statistics. Breaking down trade barriers: India opens up to foreign investors It will be easier for foreign companies to invest in India in the future. The government announced a comprehensive reform program designed to facilitate investments in the defense sector and civil aviation, among other things. The decision allows foreign investors to own 100 percent of Indian airlines and defense companies in the future. [...] The entry of foreign investors into Indian pharmaceutical companies is also being made easier. Source: http://www.spiegel.de/wirtschaft/unternehmen/lösungen-erleichtert-investektiven-in-fluglinien-und-ruestungskonzerne-a-1098712.html (abbreviated and linguistically simplified), as of: June 20, 2016, accessed: 07/26/2018 ... describe the transformation process of the Indian economy. Lexicon Tasks 1. 2. India - changes in the national economy In 2001 foreign investments in India amounted to around 4,000 million US dollars. In 2017, they were nearly $ 56,000 million. 68 Additional material my28br For testing purposes only - property of the publisher öbv
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