India is the third largest economy country in the list of Purchasing Power Parity. The information that wealth controls exist is a severe consideration in understanding the Indian economy. The majority economists put down India’s capital controls and announce that India should straight away move to an open capital account and further free up its markets. India’s economic history is usually divided into four periods generally independence to 1965, 1966 to 1980, 1981 to 1991, and post 1991. The periods are define as such since they mark obvious breaks in financial policies in India and can be recognized with shifts in economic expansion rates. Indian technocrats and politicians are not being determined or politically motivated when they choose to limit capital flows and check the progress of the Rupee in global markets. Surely, politics plays a role. Millions of India’s poor tend to protest against liberalization. While as India’s place in the worldwide economy, given the huge developmental challenges that stay nationally, it would be hard to imagine India asserting its economic supremacy in intercontinental markets any time rapidly. Processes of institutional modification are likely to take decades than years and as a outcome the rise of India as an financial superpower will only happen over a long era of time.