Introduction
India possesses the fastest growing economies in the entire world and the economy is expected to grow at a constant rate during the next few decades. The estimated current population of India is around 140 crores. There are 24 principal languages spoken in India. As the birthplace of four major religions that exist even today, India is rightfully known as the land of spirituality and philosophy. India possesses richness and diversity of culture and climatic conditions and natural and mineral resources. A new spirit of economic freedom is stirring in India. Today, India is said to be the third largest economy (in terms of purchase power parity) in the world. A series of ambitions economic reforms have deregulated the economy and stimulated domestic and foreign investment. The abundance of qualified and skilled manpower, which makes it an ideal base for sourcing production, both for export and the huge domestic market. The private sector is the backbone of the economy, accounting for 75% of the GDP. The role and importance of the private sector in India’s economic development is rapidly increasing. Today, India is one of the most exciting emerging markets in the world.
