India on the Pathway of Transitional Economy Since 1991: EAFM Department, Rajasthan University, Jaipur

India is an emerging economy since independence and has gone through various phases of transitions. From being a socialistic economy to a liberalized one since 1991and further strengthening of the newly laid policies again in 2000 has led it on a path of development. Being one of the third largest landscapes of Asia it has seen some major changes in its Socio Economic structure which has made it one of the major players in world economy. India with its reforms has slowly but steadily professed to be a free market economy. It has taken giant leaps in the area of manufacturing, technology and IT. It has transited from a low income country to a middle class economy in a span of 25 years.