India's economy has more than doubled in real terms since reform began, in 1991, and shows no signs of cooling. The broad commitment to liberalization demonstrated by three successive governments has sparked unprecedented growth and opportunity, both for local companies and for foreign ones thinking about entering the subcontinent for the first time. India's consumer demand, increasing three to five times faster than the economy, reveals the outlines of an aspiring middle class that is vibrant, growing, and young. Indeed, 70 percent of India's citizens are less than 36 years old, and the country is home to 20 percent of the world's population under the age of 24.
For the vast majority of India's 1.1 billion people—more than a quarter of whom live in poverty—even such transformative growth can't come fast enough. The burgeoning services sector, for example, accounted for more than half of the country's GDP in 2003 but employs fewer than one-quarter of its workers. Some two-thirds of all Indians work in agriculture, where growth is slow and prospects are limited.
This series of interactive exhibits depicts the shape—and scope—of India's remarkable economic transition and its effects on consumers and businesses and then examines some of the challenges facing the country.
India's vital signs
A graphic look at the country's economic progress and challenges
About the Authors
Jayant Sinha is a principal in McKinsey's Delhi office.
About the Artwork:
Ramlal Dhar
Gouache on paper
75.5 × 101 cm
2003