Based on the data gathered through the course of study, it was determined that the economic development of a country is a complex processes both economically and non-economically elements interacting with each other. The foreign direct investment and the policies that govern its administration is the main focus of the study. It can be concluded through the results of the data gathering that although this endanger the local businesses’ control over the industries and ultimately the trade and commerce, it is necessary to be able of improve and thrust the country’s economy forward, initiate, and catalyze growth and development of the economy.
The result of the study showed that foreign investment is one of the contributing factors in the fast growing economy of India. But there are other factors that can are important in the present development of India which includes the attention being given to the agricultural development of the country. India is one of the countries in Asia that was the earliest cradles of civilization. The country had been a site for the development of culture and society, creating unique and distinct traditions and customs as well creating foundations for the development of society.
Development occurred in the different aspects of the Indian tradition but problems such as war beset the country and caused scarcity in resources and economic stagnation. The economy of a country, specifically India, is dictated by the policies that are set by the state and the leadership of the country. Thus, the economic development is coupled with the proper administration and leadership (Braibanti, Jagota, Malenbaum, Mitra, Park, Sovani, Spengler, Tilman, Tinker, 1963).
The guiding principles set dictate the advancement in the status of the country. Putting the current economic aspect of the country’s development into focus, it can be generalized that India had been through a dynamic economic growth triggered by the policies and trends in the international economy (Rothermund, 1993). The foreign relations can be viewed through the development of the economy of India. India’s economy is rooted from a traditional economy is a phase that is generally focused on the land and the produce.
This period was mainly on the production that was only per land and managed by the land owners. Foreign relations had relatively a lesser role
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