Question

Indian economy is. Developing economy justify this statement on the basis of change that an economy experience with the economic development 

Answer 1

Indian economy is a developing economy. This statement can be justified by taking further justification, for example, countries like USA and RUSSIA are the ones that are already developed. Their economy is strong in every field, for India we can have an example of the IT sector i.e information technology. Our IT sector can't be tagged as being economically developed but as economically developing. It faces ups and downs. On the other hand, we also can't  say that sector is underdeveloped.