India is the seventh-largest and second-most populous country in the world. Located in the Southern Peninsula of the Asian continent, the country has a total land area of around 3.3 million square kilometres and a population of approximately 1.3 billion. With the towering Himalayas in the north, the country slopes out in the Indo-Gangetic plains. In the central part of the country, the Vindhya ranges separate the Deccan Peninsula from the Northern plains. With the Indian Ocean on the east coast, the Republic of India is divided into 28 states and 8 Union Territories. The constitution of this nation offers a sovereign, socialist, secular and democratic country. Based on the British Parliamentary system, the country has a federal form of government, with New Delhi being its Capital.
The judiciary of the country is independent of the Parliament and has the Supreme Court as highest, which is followed by the High Court for each state and lower court for every district. The Supreme Court uses English as its primary language even though the mother tongue is Hindi. There is twenty-four principal language are spoken in the country. With four prime religions, the country is known as a land of spirituality and philosophy. India has a rich diversity in culture along with natural mineral and resources. As a result of liberalization, the country has shown the vast potential as an economy. Besides, its enduring institutions are rooted in the principles of democracy and ensure a transparent, predictable and secure environment for foreign investments. The country has a lot of qualified and skilled manpower making it an ideal place for sourcing production. The private sector has emerged as the backbone of its economy, which accounts for 75% of the total GDP. The role and importance of the private sector in the country’s economy are increasing rapidly.
THE FOLLOWING AREAS ARE STATE MONOPOLIES:
- Production of atomic energy.
- Production, etc, of minerals specified in the Schedule to the Atomic Energy (Control of Production and Use) Order 1953
- Railway transport.
- However, the government is now permitting select private sector investment in the mining and defence industry.
- One of the fastest-growing economies in the world with consistent GDP growth of over 6%, making it the epicentre of investment.
- Goldman Sachs predicts the Indian economy to be the third-largest in the world by 2050.
- The world’s third-largest investor base only after U.S.A and Japan.
- A large presence of FIIs in the Indian capital market with over 451 FIIs and 38 foreign brokers registered with SEBI.
- Placed amongst the most transparent & mature markets in the world.