India's shift towards a market economy has positively affected its growth. This transition has led to increased competition, foreign investment, and entrepreneurship, which has fueled economic expansion. The market-based approach has empowered individuals and businesses to make their own decisions regarding production, consumption, and investment. As a result, India has experienced higher economic growth rates, improved living standards, and a reduction in poverty levels. However, it is important to note that India still retains certain aspects of a command economy, including government regulations and interventions in certain sectors, which can sometimes hinder economic growth.
