Asia · Southern Asia · Federal parliamentary constitutional republic
Events where India was directly involved or significantly affected.
India gained independence from British colonial rule. The simultaneous Partition created Pakistan, displacing over 10 million people in one of historys largest mass migrations.
Source: Historical records
Facing a balance of payments crisis, India undertook sweeping economic reforms under PM Narasimha Rao and Finance Minister Manmohan Singh, opening the economy to foreign investment and trade.
Source: Reserve Bank of India
The Indian government withdrew 86% of currency in circulation overnight to combat corruption and informal economy, causing significant short-term economic disruption.
Source: Reserve Bank of India
A novel coronavirus first identified in Wuhan, China, spread globally, causing the most severe pandemic since 1918 and unprecedented economic shutdowns worldwide.
Source: WHO
Multiple central banks including those of China, Saudi Arabia, India, and others continued record gold purchases, diversifying reserves away from any single currency.
Source: World Gold Council