ABSTRACT

The pace of Indian economic development in the postindependence period has been impressive, compared not only with its own colonial period, but also with other low-income countries. In many respects, growth has been similar to that of the People's Republic of China, which faces problems of similar complexity and diversity. A common failure to recognize the magnitude of India's accomplishment has led to misunderstanding of objectives, underestimation of the potential for future achievement, and lost opportunity to understand development processes in Third World countries.