Indian Economic Growth

Sir I today everywhere there is chaos about the Indian Economic growth so I really want to know about the Economy of India and what are the opportunities ahead from this.

Hey buddy the Economy of India is the seventh-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP).

It is one of the most attractive destinations for business and investment opportunities due to huge manpower base, diversified natural resources and strong macro-economic fundamentals.


Factors affecting Indian economy



Research and development

The Indian Agricultural Research Institute (IARI), established in 1905, was responsible for the research leading to the "Indian Green Revolution" of the 1970s.

The Indian Council of Agricultural Research (ICAR) is the apex body in kundiure and related allied fields, including research and education.

Agriculture

India ranks first worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India

Industrial output

An industrial zone near Mumbai,India.

India is tenth in the world in factory output. Manufacturing sector in addition to mining, quarrying, electricity and gas together account for 27.6% of the GDP and employ 17% of the total workforce.

Services

India is fifteenth in services output. Service industry employ English-speaking Indian workers on the supply side and on the demand side, has increased demand from foreign consumers interested in India's service exports or those looking to outsource their operations.

India's IT industry, despite contributing significantly to its balance of payments,

Economic Growth

Year Growth (real) (%)

2000 5.6
2001 6.0
2002 4.3
2003 8.3
2004 6.2
2005 8.4
2006 9.2
2007 9.0
2008 7.4
2009 7.4
2010 7.1
2011 6.8
2012 6.5
2013 5.1
2014 6.9
2015(estimates) 7.3

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Answered By StudyChaCha Member