Over the 1990s and 2000s, India experienced a remarkable acceleration in its rate of economic growth comparable in the mid-2000s to that of its neighbour China. This economic “take-off”, which was partly driven by private investment, was anchored in the country’s strong positioning on different business sectors (chemicals/pharmaceuticals, jewellery, oil refining, IT services, business services, etc.). Coupled with the launching of major social programmes, these high-growth years helped to reduce extreme poverty and foster the emergence of a middle class.
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