India has long been considered a third world country, with its roots in the colonial era when it was a part of the British Empire. At the time of independence in 1947, India was classified as a ‘third-world’ country, with a GDP of just Rs 2.7 lakh crore. Since then, India has made remarkable progress in terms of economic growth and development.
Today, India is the fifth-largest economy in the world, with a GDP of Rs 150 lakh crore. The country has achieved a sustained growth rate of 7.5% in the last decade, and is projected to become the third-largest economy by 2023. India has also made significant progress in terms of human development, with a significant reduction in poverty and an increase in life expectancy.
Despite this impressive economic growth, India is still considered a third world country by many. This is mainly due to the country’s high levels of poverty, inequality, and lack of access to basic services. India is home to the world’s largest population of people living in extreme poverty, with over 30% of its population living below the poverty line. In addition, the country has a high rate of illiteracy, and a large number of people living in slums.
Despite these challenges, India has made significant progress in recent years. The government has implemented various social welfare schemes and initiatives to reduce poverty and improve access to basic services. In addition, the country has made significant investments in infrastructure, healthcare, and education. These efforts have helped to reduce poverty and improve the quality of life for millions of people.
Despite its challenges, India is still considered a developing country, and is expected to become a major economic power in the coming years. The country has a large population, a strong manufacturing base, and a rapidly growing service sector. In addition, the country has a large pool of talented and educated workers, and a large consumer market.
In conclusion, India is still considered a third world country, but it has made significant progress in recent years. The country has achieved a sustained growth rate of 7.5% in the last decade, and is projected to become the third-largest economy by 2023. The government has implemented various social welfare schemes and initiatives to reduce poverty and improve access to basic services. With its large population, strong manufacturing base, and rapidly growing service sector, India is expected to become a major economic power in the coming years.
