1. Economic Development of India

2. Problems Build Agriculture and Industry Build Agriculture and Industry –Food and manufactured goods

3. Problems Agriculture: Agriculture: –Poor soil –Inefficient farming methods –Needed to increase crop output –Land distribution –Tenant farming –overpopulation

4. Problems Industry: –Dependence on imported manufactured goods, machines, and oil –Gov’t run businesses inefficient –Limited foreign investment

5. Solutions Gov’t took lead to develop Agriculture and Industry Gov’t took lead to develop Agriculture and Industry

6. Solutions Nehru: Nehru: –Socialist principles –series of five year plans with limited foreign investment – mixed economy –Factories to produce manufactured goods –gov’t: steel, mining, textile, transportation, energy –private: consumer goods

7. Solutions Rajiv: Rajiv: –liberalized economy: stimulated economic growth in India stimulated economic growth in India Encouraged private enterprise Encouraged private enterprise –Foreign partnerships

8. Solutions moved from socialism (Nehru 1950-60) to free/private enterprise and the liberalization of the economy (Rajiv Gandhi 1980) moved from socialism (Nehru 1950-60) to free/private enterprise and the liberalization of the economy (Rajiv Gandhi 1980) Agriculture: Agriculture: –gov’t irrigation systems –New machines –Green Revolution (video): use technology to increase output of crops Green RevolutionGreen Revolution –Land reform

9. India’s Economic Goal create a modern industrialized nation create a modern industrialized nation self sufficient self sufficient –Video - India's Economy: The Road Ahead India's Economy: The Road AheadIndia's Economy: The Road Ahead