General Education Development (GED) Practice Exam

India is classified as an emerging market because it shows significant growth potential and has a rapidly expanding economy compared to more developed nations. Emerging markets typically have a lower gross domestic product (GDP) per capita than developed countries, yet they are experiencing substantial industrialization, urbanization, and increased participation in the global economy. In contrast, Japan, Britain, and Canada are established economies with well-developed infrastructure, stable institutions, and higher GDP per capita. These countries are considered developed markets, as they have already transitioned from developing stages to more mature economic systems. India, on the other hand, continues to evolve and presents opportunities for investment and economic development, making it a quintessential example of an emerging market.