India Inc s stupendous growth can be attributed to ' India Economic Reform ' earnest in July 1991. The balance of payments crisis opened the way for an International Monetary Fund (IMF) program that led to major ' India Economic Reform ' . The foreign-exchange reserves recovered quickly and arrested the crisis related IMF and World Bank.

Reforms in Indian Economy over the last decade and half in the ares like Savings, Investment and Fiscal Discipline, Industrial and Trade Policy, Foreign Direct Investment, Agriculture, Infrastructure Development, Financial Sector, Privatization and Social Sector Development in Health and Education is mind-boggling. And ' India Economic Report ' can be summarized as -

• Telecommunications industry– both mobile and fixed service is now open to private sectors (even foreign investor) and as a result, the telecommunications services are growing fast.
• Insurance industry - has been opened to private investors, both domestic and foreign.
• Diesel oil and gas prices have undergone some increases.
• Few reductions have also been made in fertilizer and food subsidies.
• The value added tax has undergone substantial rationalization.
• The economy has registered growth at more than 6% and with full economic stability.
• Inflation has been low and foreign exchange reserves are sufficient to finance imports for more than 8 months.
• Rising incomes have helped bring down poverty and according to reports, the proportion of poor in total population has declined.

The greatest change in ' India Economic Reform ' has been in the 'attitude'. Differences on which reforms to undertake first and at what pace still exist, but all agrees that ' India Economic Reform ' must continue. Initial fears that changes of power at the center will retard the ' India Economic Reform ' process or even reverse it, turned futile. The task of implementing reforms in a democracy is complex but the experience of the past decade and half shows that change can occur. Moreover, the success of the ' India Economic Reform ' in delivering growth and removing poverty must move forward with less hick-ups. The support for ' Post 1990 Economic Reforms in India ' is much stronger than it was 15 years back .