As developing countries, both Ukraine and India face various problems and breakthroughs in each state segment: foreign and national policies, economy, movements for social rights and life expectancy. I would like to focus on the economic situation in both regions to reflect the recent changes in the values and prognosis for the next years.

Nanda, P.K. & Laha R. (2017, February 23) state that ventures in India are likely to show the lowest average pay hike in the last eight years. Despite outnumbering the values in the Asia-Pacific region, the value of 9.5% hike is the lowest point the country has faced since the 2009 recession (Nanda, P.K. & Laha R., 2017). India chose to follow the latest international market tendencies, focusing on development of spheres such as e-commerce, professional services, media and entertainment. However, country officials fail to support the other niches, leaving blue-collar workers with no further improvement in terms of pay rise. For instance, cement industry proves to have the lowest increase number of 7.6%, followed by the average 8% in logistics, finance, metal industry and energy (Nanda, P.K. & Laha R., 2017).

It is a strategy that destabilizes the market economy and encourages workers to apply only to some spheres of job placement. With the estimated 2017 drop in the pay rate of white-collar workers (Nanda, P.K. & Laha R., 2017), India is prone to lose motivated individuals, who opt to seek career choices in other regions. In the conditions of tightening budget, ventures are more concerned about proper rewards for their top personnel, rather than reviewing budgeting and business plans, which poses a threat of the further deterioration in work conditions, career prospects and stability of the middle class in the next years.

The positive improvement of developing country is shown on the example of Ukraine. Despite being currently involved in the armed conflict, the country shows signs of exiting the recession. Its Gross Domestic Product (GDP) reached 4.7% as of October – November 2016 (Ukraine’s economy grows by nearly five percent, 2017). Ukraine is bound to reach the milestone of the short-term economic boom and secure its position on the Eastern European market, provided with the loan of $17.5 billion from the International Monetary Fund in 2015, having implemented the security and financial strategies, along with the monetary support from the European Union and the United States (Ukraine’s economy grows by nearly five percent, 2017). The positive changes of the economic situation have the potential to improve the country’s position on the world market and secure the existing positions in the Eastern European region. It is also beneficial to Ukraine’s long-term plans to be accepted as a member of the European Union.

It is necessary to analyze the reasons behind the situation in each developing country in terms of improvement and deterioration. In the current process of globalization, it is natural that major political events in the developed countries can severely diminish developing areas’ potential in terms of economy and their status on the world political arena. The biggest milestones of 2016, United Kingdom’s decision to leave the European Union, and the election of Donald Trump as the president of the United States, shook the rates of India economy, which resulted in estimated 2017 drop in the pay hike. Another reason behind the current worsening of situation in India is the revoking of high-value banknotes, approved on the governmental level (Nanda, P.K. & Laha R., 2017). Moreover, as the ventures focus on the capitalistic principles in their companies, valuing productivity above all, the needs of workers are neglected, leaving them with little stability and cutting investment possibilities, therefore hindering the growth in the national market, as well as growth of GDP rates. Besides, worsening work conditions and drops in pay rise may provoke mass protests and demonstrations in the long term.

As for the improvement of Ukrainian economy, the key factor is driving profit while concentrating on the best renown country success sector – agriculture, as Ukraine is often called the “breadbasket of Europe” (Ukraine’s economy grows by nearly five percent, 2017). Chosen as the basis of economy, it has proved to be a stable ground for country’s way out of the recession. Ukraine’s potential for development of the weaker economic structures is currently deteriorated by the armed conflict with Russian troops in the East of the country, therefore, both government and entrepreneurs made the right call to implement their strongest market niches as the basis of the economy plan. Another reason for Ukraine’s improvement as a developing country is the solidified and unified government position behind each decision regarding any changes on the economic market, as well as the political arena.

The current president, Petro Poroshenko, chose the pro-Western course and carefully picked the administration that is able to meet the high demands of entering the European Union, as well as balance the situation on the national market in the post-recession time. With the course set for the nearest years, Ukraine is pulling out of the 2008 economic slump and the decrease in rates attributed to three year conflict with Russia. The country has managed to solidify the GDP, despite the public concerns, and set the guideline for the secure investment and distribution of the International Monetary Fund loan of 2015. (Ukraine’s economy grows by nearly five percent, 2017). As a result of the country’s economy growth, Ukraine is becoming an intensely developing country.