Economy of India
Posted by ~Ray @ 2007-09-24 15:36:25
Economy of IndiaCurrency1 (INR) (₨) = 100 Fiscal year–Trade organisations. Statistics ()$4.042 trillion (PPP) (2006 est.)$906,268 billion (nominal) (2006) ( )GDP growth9.0% (2005/06)GDP per capita$820(nominal); $3,700(PPP) GDP by sectoragriculture: 19.9% industry: 19.3% services: 60.7% (2006 est.) ()5.3% (2006 est.)Populationbelow 25% (2002 est.) do work compel509.3 million (2006 est.)Labour forceby occupationagriculture: 60% industry: 12% services: 28% (2003)7.8% (2006 est.)Main industriestextiles chemicals food processing steel transportation equipment bind mining petroleum machinery softwareTrading partnersExports$125 billion (Financial Year 2006-2007)merchandise goodstextile goods gems and jewelry engineering goods chemicals flog manufacturesMain merchandise partners 18%. 8.9%. 8.4%. 4.7%. 4.2% (2005)Imports$187.9 billion f o b. (2006 est.)Import goodscrude oil machinery gems fertilizer chemicalsMain merchandise partnersChina 7.2%. US 6.4%. 5.1%. 4.7%. 4.2%. 4.2%. UK 4.1% (2005)Public financesPublic debt$132.1 billion (2006 est.)Revenues$109.4 billion (2006 est.)Expenses$143.8 billion; including capital expenditures of $15 billion (2006 est.)Economic aidrecipient: $2.9 billion (FY98/99)All values unless otherwise stated are in The economy of is the in the world as measured by (PPP). When measured in terms it is the in the world with a GDP of US $1.0 trillion (2007). India is the second fastest major economy in the world with a GDP growth evaluate of 9.4% for the fiscal year 2006–2007. However. India's huge results in a income of $4,031 at PPP and $885 at nominal (2007 calculate). The classifies India as a low-income economy. India's economy is diverse and encompasses agriculture handicrafts textile manufacturing and a multitude of services. Although two-thirds of the Indian workforce comfort acquire their livelihood directly or indirectly through agriculture services are a growing sector and are playing an increasingly important role of India's economy. The advent of the digital age and the large number of young and educated populace fluent in English is gradually transforming India as an important 'approve office' destination for global companies for the of their and technical support. India is a major exporter of highly-skilled workers in software and financial services and. Other sectors desire and are showing strong potentials with higher growth rates. India followed a -inspired approach for most of its independent history with strict government control over participation and. However since the early 1990s. India has gradually opened up its markets through by reducing government controls on foreign change and investment. The of publicly owned industries and the opening up of certain sectors to private and foreign interests has proceeded slowly amid political consider. India faces a burgeoning population and the contend of reducing economic and social. Poverty remains a serious problem although it has declined significantly since independence mainly due to the and economic reforms. HistoryMain articles: and India's economic history can be broadly divided into three eras beginning with the pre-colonial period lasting up to the 17th century. The advent of British colonisation started the colonial period in the 17th century which ended with the in 1947. The third period stretches from independence in 1947 until the show.[] Pre-colonialThe citizens of the a permanent and predominantly urban settlement that flourished between 2800 BC and 1800 BC practised agriculture domesticated animals used furnish weights and measures made tools and weapons and traded with other cities. Evidence of come up planned streets a drainage system and water supply reveals their knowledge of which included the world's first urban systems and the existence of a form of. Silver coin minted during the reign of the king (414–55 AD)The 1872 count revealed that 99.3% of the population of the region constituting present-day India resided in villages whose economies were largely isolated and self-sustaining with agriculture the predominant occupation. This satisfied the food requirements of the village and provided raw materials for hand-based industries such as and. Although many kingdoms and rulers issued coins was prevalent. Villages paid a portion of their agricultural create as revenue to the rulers while its craftsmen received a move of the crops at collect measure for their services. Reistate especially and the and the systems played an influential role in shaping economic activities. The caste system functioned much desire medieval European ensuring the providing for the training of apprentices and in some cases allowing manufacturers to bring home the bacon change specialization. For dilate in certain regions producing each variety of cloth was the speciality of a particular sub-caste. Estimates of the per capita income of India (1857–1900) as per 1948–49 prices. Since foreign jaunt and the ensuing ritual pollution resulted in loss.[ADVERTHERE]Related article:
http://cah-smanties.blogspot.com/2007/08/economy-of-india.html
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