India has seen a rapid rise in industrialisation in the past few decades, due its expansion in markets such as pharmaceuticals, bio-engineering, nuclear technology, informatics and technology-oriented higher education. These latest trends have made India more globally-minded as their desire to trade with the world increases.
It is said that India has deliberately targeted markets they know they can make instant in-roads into. Industries such as pharmaceuticals and bio-engineering have been seen as ideal in increasing the national income using the country's new-found expertise. Also, India now exports a whole variety of products and knowledge, including petroleum products, textile goods, jewellery, software, engineering goods, chemicals, and leather merchandise.
There are a lot of comparisons drawn between India's industrialisation model and that of China. Both countries have realised the importance of the export market and how to capitalise on their huge workforces - allowing them to become leading powers in the global market on several fronts. Western countries look favourably to countries such as India and China due to their low production costs in comparison to European and US prices; again a favourable characteristic allowing the countries to build their economies.
The industrialisation of India looks set to continue for some time and the result could well be that India becomes a major player in many global markets in the future.
It is said that India has deliberately targeted markets they know they can make instant in-roads into. Industries such as pharmaceuticals and bio-engineering have been seen as ideal in increasing the national income using the country's new-found expertise. Also, India now exports a whole variety of products and knowledge, including petroleum products, textile goods, jewellery, software, engineering goods, chemicals, and leather merchandise.
There are a lot of comparisons drawn between India's industrialisation model and that of China. Both countries have realised the importance of the export market and how to capitalise on their huge workforces - allowing them to become leading powers in the global market on several fronts. Western countries look favourably to countries such as India and China due to their low production costs in comparison to European and US prices; again a favourable characteristic allowing the countries to build their economies.
The industrialisation of India looks set to continue for some time and the result could well be that India becomes a major player in many global markets in the future.
