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The Indian economy has undergone significant changes in recent decades, transitioning from a period of economic controls and limited market orientation to becoming one of the fastest-growing economies in the world. This transformation has been driven by economic reforms, liberalization, and a focus on fostering entrepreneurship and innovation. The period of 2000-2014 witnessed notable progress in reducing government controls, opening up sectors to private investment, and implementing market-friendly policies. This era saw increased economic growth, improved business environment, and increased foreign direct investment. The legacy of controls from the pre-reform era was gradually dismantled, allowing for greater economic dynamism and integration with the global economy. From 2014 to 2022, India continued its growth trajectory with initiatives such as Make in India, Digital India, and financial inclusion. Efforts were made to address infrastructure gaps, enhance ease of doing business, and promote sustainable development. Challenges in areas like income inequality, inadequate infrastructure, poverty, and unemployment persisted and required attention.