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