It is moving out of its old traditional sectors and into newer, value-added, and high-tech ones.
Economic activities unknown to Nehru, such as software development, back-office outsourcing, call centres and the like are flourishing unchecked, though more traditional sectors are still being freed only gradually from the suffocating red tape of the old licence raj.
Traditional sectors such as hotels with brands like Hilton, Sheraton and Marriott seem ready for next gen brand culture like you find in air travel where many long-time established players, for example, British Airways, Singapore Airlines, and American Airlines face rising next generation challenger brands such as Delta Airlines, Turkish Airlines and Emirates Airlines.
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"Our ability to broaden our product and distribution base will enable us to mitigate to some extent any short term weakness in our traditional hobby sectors, " said Hornby chief executive Frank Martin.
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Higher-tech manufacturing sectors such as computer-hardware manufacturing and biotech have emerged in the past couple of decades, but these industries tend to need more skilled workers and fewer of them than the traditional manufacturing sectors they are replacing.
Furthermore, while some graduates will be fighting harder for fewer positions in traditional MBA recruitment sectors, others are using the recession as an opportunity to explore ways of using their degree to make a positive contribution to social and environmental causes.
This is especially salient in sectors that traditional regulators have yet to survey, or in fields that are dominated by entrenched entities.
But the overall media market has changed pretty dramatically over the last few years, with the number of deals (and number of brokers serving those markets) growing much faster in emerging sectors than traditional consumer and b-to-b media.
By the late 1970s conversion to a market economy began, including development of export sectors besides the traditional tea and other commodities.
The new champions of the BRIC and other emerging markets have arrived and are playing as equal and often superior players in global sectors along with traditional multinationals.
They are spending more time away from traditional media and redirecting disposable income from other entertainment sectors.
"New York is really the up-and-coming place because people who don't have traditional technology backgrounds are starting companies in completely different sectors and utilizing technology, " he said.
There are no bargains in the oil sectors anymore, at least in the sense of traditional value investing.
Universities say that such new courses reflect the demands for skills from the leisure and service sectors, which are now often bigger employers than "traditional" industries.
BBC: NEWS | UK | Education | Teachers attack 'hobby degrees'
Parts of the traditional small enterprise sector and of the informal economy service particular components of the advanced sectors in a city.
Cutting edge businesses that I have visited in the financial and technology sectors and the Defense Industrial Base (DIB) have developed their own methodologies that turn traditional IT risk management frameworks on their head.
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