Economic Growth and Manufacturing Hubs

India's modern economic growth has been led disproportionately by its services sector, above all information technology and business-process outsourcing, which expanded rapidly after the country's 1991 economic liberalization opened previously protected markets to competition and foreign investment. Bengaluru (Bangalore), often nicknamed the "Silicon Valley of India," anchors this industry, hosting major Indian firms such as Infosys, founded in 1981, alongside the regional or global offices of numerous multinational technology companies; Hyderabad and Pune have grown into comparable secondary hubs. This growth, compounding over three decades, helped India's nominal GDP overtake that of the United Kingdom in 2022, making India, by International Monetary Fund figures, the world's fifth-largest economy by that measure.