Business/Economy

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Indian Economy

 

1-The economy of India is the sixth-largest economy in the world .

2-The economy of India is measured by nominal GDP and the third-largest by purchasing power parity (PPP).

3- Maharashtra is the wealthiest Indian state and has an annual nominal GDP of US$330 billion, nearly equal to that of Portugal and Pakistan.

4- India’s economy became the world’s fastest growing major economy in the last quarter of 2014, replacing the People’s Republic of China.

5-The Indian economy has the potential to become the world’s 3rd-largest economy by the next decade.

6-India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14

7-The IT industry continues to be the largest private sector employer in India.

8-India is also the third largest start-up hub in the world with over 3,100 technology start-ups in 2014-15

9-The agricultural sector is the largest employer in India’s economy but contributes to a declining share of its GDP (17% in 2013-14).

10-India has $600 billion worth of retail market in 2015 and one of world’s fastest growing E-Commerce markets.

11-India is also home to world’s third largest billionaires pool with 111 billionaires in 2016.

12- India ranks second worldwide in farm output.

13-India’s consumer price inflation ranged between 8.9 and 12% over the 2009-2013 period.

14-India is the second largest market in the world by number of telephone users (both fixed and mobile phone) with 1.053 billion subscribers as on 31 August 2016.

15- India has the world’s third-largest Internet user-base. As on 31 March 2016, there were 342.65 million internet subscribers in the country

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