what is the economy system in india?

Capitalism is the economic system in India where free enterprise is encouraged.

Officially India is a Mixed economy. Although there is no such thing as a mixed economy. Worldwide either you are an open economy or a controlled economy. I think India can be termed as an open economy after 1991. Every Indian is free to start a business or to form a company. Running a successful business requires that as a prerequisite. The Indian State does however have some participation in the economy by means of public sector undertakings. These undertakings play an important role in strategic areas of the economy such as heavy industries, nuclear industry, railways etc in other non crucial areas like telecom, aviation etc the participation of the government has become less over the years. I hope that clears somethings up for you. Good luck for your project!

Mainly capitalism based.

Mumbai(Bombay) is the commercial & industrial capital of India where 95% wealth of the city is in the pockets of only 28 capitalists' families as if they only have the brains & rest 1,75,00,000 people are ordinary. Irony is that economy of a city is run by its population & collective efforts of all & not of few capitalists. Such economic set up is not beneficial for entire country as a whole(evils of capitalism).

Today's economic condition of India is well. Mr. P. Chhittambaram is really a nice person in economy. He is able to manage Indian economy very well.

Taday's value of INR in world market has increased. Pharma & IT industries are contributing most part in it. Also, textile, steel, food products and many other industries are working as helping hand to the economy raise.

India is mixed economy where public enterprise and private compets without giving any chance to the private enterprise to monopoly. public enterprise checks the private enterprise in holding the market. Here Public Utilities are under the sole control of the government. Our economy suits to the parliamentary type of democracy. Due to recent massive privatisation of public enterprises, private enterprises are ruling the roost. The structure of mixed economy is changing very fast switching to the structure of capitalism that is suitable to presidential type of government where there are no public enterprises.

indian economy is basically mixed economy. mixed economy comprises of both public sector, private sector and joint sector. any economy comprises of agriculture and industry. again industry comprises of 1.manufacturing and services. if u compare the economy as a cart both agriculture and industry are two wheels. progress gfrowth is registered only with the propelling of two wheels. agriculture and industry are inter dependent. the out put of agriculture such as sugarcane is the raw material for sugar factory. wheat is the raw material for bread making units.similarly.the output of industry such as post harvet machines, tractors ,will be useful for agriculture. we canot say that agriculture is un-important where as industry is important both are important for the economic development. india is wedded the concept of mixed economy in which the government privatesector will co-operate to move the economy fast forward and at present indian grwoth rate is 8.5% and aiming at 10% rate in the years to come . all the best for u project.

Regret to misguide but blandly it thus appears that Opportunism, escapism, nepotism, regionalism, casteism and self-n-pure selfism are some of most important pillars.

How else we appear to waste valuable resources without any sense of responsibility. Might is right rules the business without obstruction and only money appears as the mightiest asset.

Creating scarcity is the best planned activity..................

indian economy is a -mixed type of economy , that is a mixture of -private and public , individual and joint , capitalistic -socialist . to day it is more diverted to private economy. more liberal more flexible- more realistic .

it has character of liberalism and profit oriented and more globel in nature.

IT IS GOING IN THE RIGHT WAY.