India's economic development has also remained steady over the years. In the last couple of years, the Indian economy has registered an impressive growth rate of 7 per cent. The amplification and diversification of its industrial capacity have made important strides. Currently, India ranks among the topmost industrialized nations of the world. It has the distinction of having the third largest pool of trained and scientific manpower in the world. Agricultural production has also shown big growth resulting in not only self-sufficiency in food grains, but also reserves of impressive buffer stocks. India's security perspectives would inevitably be governed by the interplay of its domestic demand regional balance of forces and the global challenges which affect on its role and capabilities. India with its size, resource potential and strategic location is being increasingly seen as a regional influential poised on the threshold of emerging as a centre of power in the new international order. This is as much as recognition of its credible democratic functioning as the potential of its vast economic resources and political clout.