The Indian government, after its independence in 1947, pursued a closed economic development strategy. The policy brought about inefficient resource allocation and low productivity in its economy and, as a result, the Indian economy was trapped in the so called 'Hindu growth rate' of 3 5%. This trend changed dramatically after the Indian government adopted an open and reformative economic policy in 1991. From 1991 to 2002, the Indian economy experienced over 6% growth and expanded further after 2003 at more than 8% growth rate per year. (The rest is omitted.)