Comparing economies of India VS Maldives

INDIA VS MALDIVES

COMPARING ECONOMIES:

Introduction

India and Maldives have had friendly and close relations in terms of economic, strategic and military cooperation.

Both countries will be compared in terms of Maldives being the smallest economy of South Asia and India being one of the largest.

Comparitive analysis on the basis of economic indicators such as the GDP growth, Human Development Index, Trade, Poverty Index, Corruption Index, Agriculture, Forestry, Fishing and Industrial Sector.

Indian Economy

4rth largest economy of the world with around 1.2 billion people.

Agriculture revolution.

Life expectancy has doubled.

India adopted free market policies and imposed trade liberalization.

Historical Preview

Precolonial Period(upto1773)

Colonial period (1773–1947)

Pre-liberalisation period (1947–1991)

Post-liberalisation period (since 1991)

Economic Growth Analysis

1. Gross Domestic Product

2. Human Development Index

3. Trade

4. Poverty Rate

5. Corruption Index

6. Agricultural, forestry and fisheries

7. Industrial Sector

Fastest Growing Sector of India IT Sector

MALDIVES

INTRODUCTION

Located in South Asia, Maldives is stretched 500 miles of Indian Ocean.

Capital of Maldives is Male which is currently the smallest urban capital in the entire world.

Population of Maldives recorded in 2013 was 345,023.

The current president of Maldives is Abdulla Yameen and the current Prime minister is Mohamed Nasheed.

HISTORY OF MALIDIVES

In 2005, multi-party democracy was introduced in Maldives.

A new constitution with new rectified policy was presented in 2008 after which Maldives experienced their first free elections.

The new democratic reform gave Maldivians the right to elect a new president, parliament, independent judiciary and other independent institute.

ECONOMIC DEVELOPMENT

In 1960’s, Maldives was one of the poorest nation.

Economic growth has been sustained in Maldives but at a slower rate.

Tourism has positively affected 2/3rd of the economic activities in Maldives.

ECONOMIC DEVELOPMENT

CURRENT ECONOMIC DEVELOPMENT

Maldives current economic development is far better than other South Asian countries but still faces many internal and external challenges.

Maldives had a very weak macroeconomic position during the 2008 international crises.

The situation became even worse the ongoing debt crises.

ECONOMIC GROWTH ANALYSIS GROSS DOMESTIC PRODUCTION

ECONOMIC GROWTH ANALYSIS HUMAN DEVELOPMENT INDEX

ECONOMIC GROWTH ANALYSIS

TRADE

POVERTY RATE

CORRUPTION

AGRICLUTURE, FORESTRY, FISHING

INDUSTRIAL SECTOR

MAJOR ECONOMIC SECTOR

Maldives is making efforts to boost their major sector that produces highest revenue – Tourism.

The development of tourism sector is divided into three different phases.

o The First phase (1972-1978)o The Second phase (1979-1988)o The Third phase (1989-1997)

COMPARATIVE ANALYSIS

GDP of India and Maldives

HDI of India and Maldives

Poverty rate of India and Maldives

CONCLUSION