INDIA with a population of over 1.2 billion is all set to dominate all the exisitng economic functions of this whole world. The growth rate of over 7% even during global economic lurch indicates the economic stability of the nation. In this blog we will look into all aspects of global economy vis a vis of Indian economy. Constructive views are always welcome.
Sunday, June 27, 2010
Indian economy an overview
Indian economy Rank 11th in terms of nominal GDP and 4th in terms of PPP(purchasing power parity)
Currency 1 Indan Rupee (INR) (₨) = 100 Paise
Fiscal year 1 April — 31 March
Trade organizations WTO, SAFTA, G-20 and others
Statistics
GDP $1.236 trillion (2009) (nominalrank; 11th) $3.526 trillion (2009)[1] (PPP rank; 4th)
GDP growth 7.4% (2009/2010)
GDP per capita $1,030 (2009) (nominal rank; 139th) $2,940 (2009)[1] (PPP rank; 128th)
GDP by sector agriculture (17.5%), industry (20%), services (62.5%) (2009 est.)
Inflation (CPI) 10.16% (May. 2010)
Food inflation (16.87%) (Apr. 2010)
Population 1024 million (2001)
below poverty line 27%
Labour force 467 million
Labour force
by occupation agriculture (52%), industry (18%), services (30%)
Main industries telecommunications, textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, information technology
External
Exports $155 billion f.o.b (2009)
Export goods software, petroleum products, textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures
Main export partners US 12.3%, UAE 9.4%, China 9.3% (2008)
Imports $232.3 billion f.o.b (2009)
Import goods crude oil, machinery, gems, fertilizer, chemicals
Main import partners China 11.1%, Saudi Arabia 7.5%, US 6.6%, UAE 5.1%, Iran 4.2%, Singapore 4.2%, Germany 4.2% (2008)
FDI stock $156.30 billion (31 December 2009)
Gross external debt $232.5 billion (31 December 2009)
Foreign reserves $287.37 billion (end-Dec 2009)
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