Chances are that any conversation about India today will turn into a discussion of the rapid rise in income and reduction in poverty, or the phenomenal rise of information technology (IT) and Information Technology - Enabled Services (ITES) sectors in the global market, or the spectacular growth in cellular telephony, or the imminent dawn of India's golden age, that is propelling India into the ranks of the world's leading economies in the not - too - distant future.(Kochhar 2006). It is undeniable that, during the last fifteen years, India has made remarkable strides in raising living standards and reducing poverty as a result of wide - ranging reforms to liberalize and open up the economy. (Hansda and Ray 2006).