The economic surge in India, with consistently high
growth rates from the beginning of the
21st century,
has caught the attention of other emerging markets, who
are keen to know how India has been able to achieve this. Those, who
are in the field of insurance elsewhere, are interested to know more on
how this economic surge has impacted the developments in the
Indian insurance markets.
The economic boom has been crafted by the government to
promote the entrepreneurial activities of its people, making more
market opportunities available to them, and by making credit easily
available for development of infrastructure, consumables along with
the development of small and medium enterprises, at reasonable
rates. Women, particularly those in the rural areas, are targeted as
`change agents' for uplifting the economic activity in the villages.
Private enterprises have been permitted to play a major role in education,
health, and communications sectors and also for energy
development—the real indicators of quality life.
The resposibility to harmonize the inevitable uneven growth
patterns, among the various social structures, however, lies primarily with
the government and its agencies. There is even a bigger challenge of ensuring social justice for all.
National governance is all about providing an enabling environment for growth, but with distribution of wealth created
to be spread more equitably.
|
