Economy of India
Economy of India
Currency
1 Indian Rupee (INR) (?) =
100 Paise
Fiscal year
April 1–March 31
Trade
organisations
WTO, SAFTA
Statistics
GDP
$3.319 trillion (PPP) (2008
est.)
GDP growth
7.3% (2008)
GDP per capita $2,900 (PPP)
GDP by sector
agriculture: 17.2%, industry:
29.1%, services: 53.7%
(2008 est.)
Inflation (CPI)
7.8% (CPI) (2008)
Population
below poverty
line
27.5% (2008 est.)[1]
Labour force
523.5 million (2008 est.)
Labour force
by occupation
agriculture: 60%, industry:
12%, services: 28% (2003)
Unemployment 6.8% (2008 est.)
Main
industries
textiles, chemicals, food
processing, steel,
transportation equipment,
cement, mining, petroleum,
machinery, software
External
Exports
$175.7 billion f.o.b (2008
est.)
Export goods
petroleum products, textile
goods, gems and jewelry,
engineering goods,
chemicals, leather
manufactures
Main export
partners
US 15%, the People’s
Republic of China 8.7%, UAE
8.7%, UK 4.4% (2007)
Imports
$287.5 billion f.o.b. (2008
est.)
Import goods
crude oil, machinery, gems,
fertilizer, chemicals
Main import
partners
People’s Republic of China
10.6%, US 7.8%, Germany
4.4%, Singapore 4.4%
Public finances
Public Debt
$163.8 billion (2008)
Revenues
$153.5 billion (2008 est.)
Expenses
$205.3 billion (2008 est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
The economy of India is the twelfth largest
in the world by market exchange rates and
the fourth largest in the world by GDP meas-
ured on a purchasing power parity (PPP)
basis.[2]
The country was under socialist-based
policies for an entire generation from the
1950s until the 1980s. The economy was
characterised by extensive regulation, pro-
tectionism, and public ownership, leading to
pervasive
corruption
and
slow
growth.[3][4][5][6] Since 1991, continuing eco-
nomic liberalisation has moved the economy
towards a market-based system.[4][5] By
2009, India had prominently established it-
self as the world’s second-fastest growing
major economy.[7][8][9]
Agriculture is the predomin