According to the International Monetary Fund (IMF), the Indian economy in 2019 was nominally worth $2.9 trillion; it is the fifth-largest economy by market exchange rates, and is around $11 trillion, the third-largest by purchasing power parity, or PPP. With its average annual GDP growth rate of 5.8% over the past two decades, and reaching 6.1% during 2011–2012, India is one of the world's fastest-growing economies. However, the country ranks 139th in the world in nominal GDP per capita and 118th in GDP per capita at PPP. Until 1991, all Indian governments followed protectionist policies that were influenced by socialist economics. Widespread state intervention and regulation largely walled the economy off from the outside world. An acute balance of payments crisis in 1991 forced the nation to liberalise its economy; since then it has moved slowly towards a free-market system by emphasising both foreign trade and direct investment inflows. India has been a member of WTO since 1 January 1995.
In the 1950s, India strongly supported decolonisation in Africa and Asia and played a leading role in the Non-Aligned Movement. After initially cordial relations with neighbouring China, India went to war with China in 1962, and was widely thought to have been humiliated. India has had tense relations with neighbouring Pakistan; the two nations have gone to war four times: in 1947, 1965, 1971, and 1999. Three of these wars were fought over the disputed territory of Kashmir, while the fourth, the 1971 war, followed from India's support for the independence of Bangladesh. In the late 1980s, the Indian military twice intervened abroad at the invitation of the host country: a peace-keeping operation in Sri Lanka between 1987 and 1990; and an armed intervention to prevent a 1988 coup d'état attempt in the Maldives. After the 1965 war with Pakistan, India began to pursue close military and economic ties with the Soviet Union; by the late 1960s, the Soviet Union was its largest arms supplier.
More InfoA two-year period of political turmoil followed the general election of 1996. Several short-lived alliances shared power at the centre. The BJP formed a government briefly in 1996; it was followed by two comparatively long-lasting United Front coalitions, which depended on external support. In 1998, the BJP was able to form a successful coalition, the National Democratic Alliance (NDA). Led by Atal Bihari Vajpayee, the NDA became the first non-Congress, coalition government to complete a five-year term. Again in the 2004 Indian general elections, no party won an absolute majority, but the Congress emerged as the largest single party, forming another successful coalition: the United Progressive Alliance (UPA). It had the support of left-leaning parties and MPs who opposed the BJP. The UPA returned to power in the 2009 general election with increased numbers, and it no longer required external support from India's communist parties. That year, Manmohan Singh became the first prime minister since Jawaharlal Nehru in 1957 and 1962 to be re-elected to a consecutive five-year term. In the 2014 general election, the BJP became the first political party since 1984 to win a majority and govern without the support of other parties. The incumbent prime minister is Narendra Modi, a former chief minister of Gujarat. On 20 July 2017, Ram Nath Kovind was elected India's 14th president and took the oath of office on 25 July 2017.
More InfoIn the 6th and 7th centuries, the first devotional hymns were created in the Tamil language. They were imitated all over India and led to both the resurgence of Hinduism and the development of all modern languages of the subcontinent. Indian royalty, big and small, and the temples they patronised drew citizens in great numbers to the capital cities, which became economic hubs as well. Temple towns of various sizes began to appear everywhere as India underwent another urbanisation. By the 8th and 9th centuries, the effects were felt in South-East Asia, as South Indian culture and political systems were exported to lands that became part of modern-day Myanmar, Thailand, Laos, Cambodia, Vietnam, Philippines, Malaysia, and Java. Indian merchants, scholars, and sometimes armies were involved in this transmission; South-East Asians took the initiative as well, with many sojourning in Indian seminaries and translating Buddhist and Hindu texts into their languages.
More InfoHistorians consider India's modern age to have begun sometime between 1848 and 1885. The appointment in 1848 of Lord Dalhousie as Governor General of the East India Company set the stage for changes essential to a modern state. These included the consolidation and demarcation of sovereignty, the surveillance of the population, and the education of citizens. Technological changes—among them, railways, canals, and the telegraph—were introduced not long after their introduction in Europe. However, disaffection with the company also grew during this time and set off the Indian Rebellion of 1857. Fed by diverse resentments and perceptions, including invasive British-style social reforms, harsh land taxes, and summary treatment of some rich landowners and princes, the rebellion rocked many regions of northern and central India and shook the foundations of Company rule. Although the rebellion was suppressed by 1858, it led to the dissolution of the East India Company and the direct administration of India by the British government. Proclaiming a unitary state and a gradual but limited British-style parliamentary system, the new rulers also protected princes and landed gentry as a feudal safeguard against future unrest. In the decades following, public life gradually emerged all over India, leading eventually to the founding of the Indian National Congress in 1885.
More InfoAfter the 10th century, Muslim Central Asian nomadic clans, using swift-horse cavalry and raising vast armies united by ethnicity and religion, repeatedly overran South Asia's north-western plains, leading eventually to the establishment of the Islamic Delhi Sultanate in 1206. The sultanate was to control much of North India and to make many forays into South India. Although at first disruptive for the Indian elites, the sultanate largely left its vast non-Muslim subject population to its own laws and customs. By repeatedly repulsing Mongol raiders in the 13th century, the sultanate saved India from the devastation visited on West and Central Asia, setting the scene for centuries of migration of fleeing soldiers, learned men, mystics, traders, artists, and artisans from that region into the subcontinent, thereby creating a syncretic Indo-Islamic culture in the north. The sultanate's raiding and weakening of the regional kingdoms of South India paved the way for the indigenous Vijayanagara Empire. Embracing a strong Shaivite tradition and building upon the military technology of the sultanate, the empire came to control much of peninsular India, and was to influence South Indian society for long afterwards.
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