When it comes to its economy, India is divided into two worlds. One is rooted in its cities. Here enterprises trade on global markets, operate through banks and pay taxes. This more modern economy is made up of family owned and publicly listed companies. It's where almost all of India's new wealth has been generated in recent years, according to a Dow Jones report suppled to Efe on Sunday.
Then there's the vast informal economy, which sustains as many as nine of every 10 Indians who work and accounts for almost half the country's economic activity. The informal economy is largely rural and comprises day-laborers, one-man shops and roadside haircutters. They operate in cash and pay no taxes.