Preview

Economy of India

Powerful Essays
Open Document
Open Document
4381 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Economy of India
Economy of India
(An Overview)

Contents

|Ser |Topic |Page No |
|1. |Introduction |2 |
|2. |Overview |2-3 |
|3. |History |3-4 |
|4. |Key Sectors – Analysis |5-8 |
|5. |External Trade and Investment |9-10 |
|6. |Reserve Bank Of India (RBI) |10 |
|7. |GNI, GDP and Growth rate |11-12 |
|8. |Conclusion |12-13 |

Economy of India
Introduction

1. The economy of India is the tenth largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the major G-20 economies and a member of BRICS. On per capita income basis, India ranked 140th by nominal GDP and 129th by GDP (PPP) in 2011, according to the IMF.

2. The independence-era Indian economy (from 1947 to 1991) was based on a mixed economy combining the worst features of capitalism and socialism, resulting in an inward-looking, interventionist policies and import-substituting economy that failed to take advantage of the post-war expansion of trade.[14] This model contributed to

You May Also Find These Documents Helpful

  • Powerful Essays

    The Indian economy is one of the fastest growing economies and is the 12th largest in terms of the market exchange rate at $1,430.02 billion (2010 India GDP). In terms of purchasing power parity, the Indian economy ranks the fourth largest in the world. However, poverty still remains a major concern besides disparity in income.…

    • 4324 Words
    • 18 Pages
    Powerful Essays
  • Powerful Essays

    India's Growing Population

    • 2545 Words
    • 11 Pages

    The Economy of India is the ninth largest in the world by nominal GDP and the fourth largest by purchasing power parity (PPP) The country is one of the G-20 major economies and a member of BRICS, and ASEAN. The country's per capita GDP (PPP) was $3,408 (IMF, 129th in the world) in 2010, making it a low-Income country. India recorded the highest growth rates in the mid-2000s, and is one of the fastest growing economies in the world. The growth was led primarily due to a huge increase in the size of the middle class consumer population, a large workforce comprising skilled and non-skilled workers, good…

    • 2545 Words
    • 11 Pages
    Powerful Essays
  • Better Essays

    a) The economic system that developed in India after 1947 was mixed economy system characterized by a large number of state-owned enterprises, centralized planning, and subsidies.…

    • 1534 Words
    • 7 Pages
    Better Essays
  • Best Essays

    "Union Budget & Economic Survey". Ministry of Finance, Government of India. 5 December, 2006 http://indiabudget.nic.in/…

    • 3636 Words
    • 15 Pages
    Best Essays
  • Powerful Essays

    India's inflation could accelerate in the current fiscal year due to the rupee's sharp depreciation, said the Reserve Bank of India (RBI).…

    • 1485 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    India Economy

    • 436 Words
    • 2 Pages

    The two opposing pressures results in 4 different basic strategies that companies can use to compete in the global marketplace: international, global, multi-domestic, and transnational. Explain fully each strategy and discuss in detail the advantages and risks of each in India.…

    • 436 Words
    • 2 Pages
    Good Essays
  • Better Essays

    The Indian Economy

    • 1228 Words
    • 5 Pages

    After independence, India chartered a path of economic development based on mixed economy, building a new industrial structure around the public sector and a closely monitored, regulated and controlled system where government played the role of licenser in the process of building industry.…

    • 1228 Words
    • 5 Pages
    Better Essays
  • Good Essays

    * The Economy of India is the ninth largest in the world by nominal GDP and the fourth largest by purchasing power parity(PPP). The country is one of the G-20 major economies and a member of BRICS. The country's per capita GDP (PPP) was $3,408 (IMF, 129th in the world) in 2010, making it a lower-middle income economy.…

    • 3021 Words
    • 13 Pages
    Good Essays
  • Good Essays

    Term Paper

    • 5620 Words
    • 23 Pages

    In 2009, India 's nominal GDP stood at US$1.243 trillion, which makes it the twelfth-largest economy in the world. If PPP is taken into account, India 's economy is the fourth largest in the world at US$3.561 trillion, corresponding to per capita income of US$3,100. The country ranks 139th in nominal GDP per capita and 128th in GDP per capita at PPP (Purchasing Power Parity). With an average annual GDP growth rate of 5.8% for the past two decades, the economy is among the fastest growing in the world.…

    • 5620 Words
    • 23 Pages
    Good Essays
  • Powerful Essays

    Indian Economy 2013

    • 1437 Words
    • 6 Pages

    -2FICCI Survey on Current State of Economy, January 2013 Highlights The global economic situation continues to be difficult. Economic situation in both US and Euro area remains uncertain. U.S. gross domestic product shrank 0.1% in the fourth quarter of 2012—the worst performance since 2009. Wednesday's Federal Open Market Committee statement acknowledged that economic activity paused in recent months, but there was no change to monetary policy. Amidst this there have been visible signs of slowdown in India’s economy as well. The flagging industrial growth and exports have become serious concerns. Nonetheless, the slew of reform measures rolled out in September last year provided some support to the dwindling investor confidence and there were some signs of return in resilience. The investment activity however continues to be sluggish. Given the above backdrop and the fact that the Union Budget FY14 is around the corner, FICCI conducted a quick survey to gauge the current state of the Indian economy and understand the expectations of the industry from the forthcoming budget. The participants clearly put forth their apprehension about the current business environment in the country. A majority 77% of the respondents to the survey felt that the current business environment in the country is not favourable for capacity expansion. In fact respondents stated that investing outside India is easier and better than undertaking investments within the domestic economy. This observation was shared by about 62% of the participating companies.…

    • 1437 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    About the Indian economy- The economy of India is the ninth-largest in the world by nominal GDP and the third-largest by purchasing power parity(PPP). India is the 19th-largest exporter and the10th-largest importer in the world. The independence-era Indian economy (from 1947 to 1991) was based on a mixed economy combining features of capitalism and socialism, resulting in an inward-looking, interventionist policies and import-substituting economy that failed to take advantage of the post-war expansion of trade. This model contributed to widespread inefficiencies and corruption, and the failings of this system were due largely to its poor implementation. In 1991, India adopted liberal and free-market principles and liberalised its economy to international trade under the guidance of Former Finance minister Manmohan Singh under the Prime Ministry of P.V. Narasimha Rao, prime minister from 1991 to 1996, who had eliminated Licence Raj, a pre- and post-British era mechanism of strict government controls on setting up new industry. Following these major economic reforms, and a strong focus on developing national infrastructure such as the Golden Quadrilateral project by Atal Bihari vajpayee, prime minister, the country 's economic growth progressed at a rapid pace, with relatively large increases in per-capita incomes.…

    • 405 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Indian Economy

    • 882 Words
    • 4 Pages

    It is meant to test your ability to consider how best to apply the theory,…

    • 882 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    One Polity, Many Countries: Economic Growth in India, 1873-2000 Gregory Clark, University of California, Davis Susan Wolcott, University of Mississippi We argue, based on Indian experience, that the major determinants of economic growth are not political and economic institutions. Through the laissez faire Colonial regime, and the interventionist economy of Independent India income per capita declined relative to advanced economies until the 1980s. And though economic growth has been impressive since 1986, the upturn pre-dates even the modest economic reforms of 1991. Further there is increasing regional variation in income per capita across states in India despite the dominance of national economic policies. Some states’ growth rates have declined since the reforms. Yet labor has moved little within India from the regions of persistent low incomes to those of high incomes. The experience of Europe and the USA suggests that encouraging migration of workers to high productivity areas within India is the only policy we know will improve overall income per capita. Introduction India is perhaps the most interesting of all economies for those interested in economic growth. For it is one of the poorer countries of the world, and has even seen an erosion of its income per capita relative to the economically advanced economies such as the USA since we have the first reasonable data in 1873. But this has occurred in an institutional environment that has been very favorable for most of this period. Indeed from an economist’s perspective the institutional environment in the Colonialist years from 1873-1947 – secure property rights, free trade, fixed exchange rates, and open capital markets - was close to ideal. So India captures the twentieth century paradox of a world of ever more rapid and easy movement of information and goods combined with large and often increasing disparities in living conditions. Figure 1 shows calculated GDP per capita in India from 1873 to 1998…

    • 10089 Words
    • 41 Pages
    Powerful Essays
  • Powerful Essays

    Indian economy is the tenth largest economy in the world by nominal GDP and third largest by purchasing power. India is one of the G-20 major economies and member of BRICS. According to IMF India ranked 134th by nominal GDP on the basis of per capita income in 2012. Its GDP is about $1.824 trillion and per capita income is about $1491. Its GDP contribution by sector wise is agriculture 17.2%, industry 26.4% and services 56.4% in 2011. Its population is about 1.2 billion and labour force is 498.4 million in 2012. Labour force by occupation: agriculture 52%, industry 14% and services 34%. Unemployement rate in India is 9.9%. Its investment is about 30% of GDP. Revenue of India is $171.5 billion and expenditure over $281 billion. It has deficit budget of 5.6% of the GDP. Main industries are textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum,…

    • 4241 Words
    • 17 Pages
    Powerful Essays
  • Powerful Essays

    indian economy

    • 2897 Words
    • 12 Pages

    01. Indian economy is world’s 9th largest economy on exchange rate basis and 4th largest economy on PPP basis in 2010…

    • 2897 Words
    • 12 Pages
    Powerful Essays