Aristotle Wurtz Research Paper: Indias Growing Economy (maybe China as well) Abstract

The topic of my paper is going to be on the growth and expansion in the country of India. Even though India is the 11th biggest economy in the world, it is the second fastest growing to China. I have already done extensive amount of research and studies on the growth in the Chinese economy, so I was hoping to take a detailed look at another country that has recent success as well. Having traveled to China and taken an in-depth analysis on the countrys economic growth, I became to appreciate the current growing and expanding countries of the world. In fact, in the third quarter of 2010, Indias GDP was up 8.8%, so it seems that it will be a formidable competitor to the American economy in the near future. The Indian economy is being largely stimulated by its industrial and mining output, with industry growing by 12% and mining by 9%. Services, which account for 55% of the economy of India have also grown nearly 10%. Even though the Indian economy has experienced a trend of economic growth and expansion, it will also be presented with some problems in the near future. In fact, the inflation rate continues to rise and is hovering around 11%. Thus, the central bank has attempted to control inflation by raising interest rates. In addition, it will face similar problems to China related to pollution and the environment. Industrialized countries consume more fossil fuels than non developed countries, so with the increasing amount of developed countries it will lead to further concerns in the future. India will also have to face the problem of its overwhelming dependence on foreign countries. It is going to have to find some internal and domestic growth before it becomes relatively sustainable in the wavering economy.

Roc, I was wondering if I could do a little bit of comparison and contrast with the countries of China and India. This would allow me to utilize my information gathered in China and during the maymester and apply it to the current setting and situation of the globalized economy. I could also learn some more aspects of the Chinese economy. With that being said, India may be too big to undertake along with China. If you feel that Indias economy would be too large to bring attention to by itself then I feel I will simply and solely do the country of India. This topic of the increased expansion and growth of India will bring together various aspects of the growing global economy. Because globalization and outsourcing are becoming larger factors in the economy, they need to be addressed further and more extensively. This may become an increasingly complex topic in the future, but I believe it needs attention brought to it as soon as possible. There are many macroeconomic models and concepts that can be applied to this topic. I will be able to utilize many of the concepts learned in class and even apply outside models and theories to help explain and bring attention towards the matter. The paper could be very long, because the topic can be connected to so many issues. With that being said, I think I will be able to successfully compress the topic into a coherent piece of work. As you know Roc, the global economy is continuously changing and evolving. I think this paper could address that overall trend and bring attention towards it, which would allow for me to have a better understanding and hopefully pass more knowledge on to you as well. After all, this class is focusing on the macroeconomy, and I believe taking a look at the key players in its evolution and growth is critical during this economic environment.

Works Cited Feb, 14. "India, China Growth Race 'silly', Says Amartya Sen - The Economic Times." The Economic Times: Business News, Personal Finance, Financial News, India Stock Market Investing, Economy News, SENSEX, NIFTY, NSE, BSE Live, IPO News. Web. 14 Feb. 2011. <http://economictimes.indiatimes.com/news/economy/indicators/india-chinagrowth-race-silly-says-amartya-sen/articleshow/7495507.cms>. "India Economy Growth." A Parent's Guide to Internet Safety ::Indianchild.com. Web. 14 Feb. 2011. <http://www.indianchild.com/india_economy_growth.htm>. "Indian Economy Overview | Economy Watch." World, US, China, India Economy, Investment, Finance, Credit Cards | Economy Watch. Web. 14 Feb. 2011. <http://www.economywatch.com/indianeconomy/indian-economyoverview.html>.