authors
R Karthikeyan, S Dharmaraj and B Kumutha

abstract
India, primarily an agrarian economy has considerably attributed with deep and dynamic structural changes not only in its social set up, but also in its economic structure for the past seven decades from its agricultural set up to service sector innovation. At present it is the Fifth largest economy of the world with about 6.6% of growth rate. It has transformed from domestic subsistence economy to internationally a competitive economy with many modern exposures. From the enunciation of Economic Reforms, 1991, Indian economy has become stronger and stronger in almost all spheres. Further, since 2014, while the bold announcement made on 8th November 2016, the demonetization policy and one year later, the announcement was made on July 2017, launching the GST has witnessed fast development and at present India is placed at 5th largest economy of the world. The present paper tries to explore the incidence of shift in economic structure in India at macro level and the specifically this paper makes an attempt to analyse the Changes in GDP distribution, Sectoral Changes including Agriculture, industry and Manufacturing and Service Sector, Changes in Consumption, Savings and Investment and the Globalisation aspects of changes in Indian Economy. It is obviously observed from the analysis that paradigm shift in economic structure in India is taken place, which was enabled by a number of socio, economic, technical, institutional, organisational and environmental forces. Economic reforms have also affected the growth rate of all sectors of the economy invariably. It is also observed that the multi coloured revolutions, viz, Blue, Brown, Green, Pin, Red, Silver, White, Yellow and others made revolutionary changes in Indian agriculture; while the 1991 reforms, trade liberalization which encourage the growth of manufacturing sector; efforts on privatising telecommunication sector and the strategic fiscal and monetary reforms have brought a favourable environment for economic growth in the country. On the other side, a negative impression is witnessed in the agricultural sector, employment generation, economic inequality, and so on. However, the overall observation based on the secondary data reveals that in spite of a number of socio economic and institutional measures taken by governments, central and states, the speed and intensity of transformation in the economic structure covering all the three sectors are found slow and less. It is fond hope that when the SDGs are achieved at a desirable rate, we may expect a vast and speed shift in the socio economic and institutional structure in the economy.