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29th April 2016, 08:49 AM
Super Moderator
Join Date: May 2012
Re: The Economy Of India

As you are demanding for the information of Economy of India.

The Economy of India is the 7th biggest in the world with a GDP (a year's goods and services) of $2.18 trillion (U.S.).

If you consider PPP (how much that money can buy in India compared to other countries), the economy is third major (worth $8.02 trillion U.S.).

However due to India's huge population, the economy was still only $6,209 (believing PPP) per person per year in 2015.

India's economy includes agriculture, handicrafts, industries, and a lot of services. Overhauls are the main source of economic growth in India today, though two-thirds of Indian populace earns their living directly or indirectly through agriculture.

In current times, due to its large number of well-educated people who can speak English, India became a pioneer in information technology.

For most of India's independent history, it had strict government controls in many areas such as telecommunications (communication over long distances), banking and foreign direct investment.

Since the early 1990s, India has gradually opened up its markets by reducing government Control on foreign trade and investment.

This was started by Manmohan Singh under the leadership of P.V.Narasimha Rao.From then, the Indian Economy grew at a quick pace.

The social and economic problems India faces are the increasing population, poverty, lack of infrastructure (buildings, roads, etc.) and growing unemployment.

Although poverty has moved out down 10% since the 1980s, a quarter of India's citizens still cannot pay for enough food.

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