The policy change in 1991 came after an acute balance of payments crisis, and the emphasis since then has been to use foreign trade and foreign investment as integral parts of India’s economy. With an average annual GDP growth rate of 5.8% for the past two decades, the economy is among the fastest growing in the world. It has the world’s second largest labour force. India’s culture is marked by a high degree of syncretism. To other parts of Asia, mainly South East. Hereditary groups, often termed as.
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