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Indian Economy Essay

816 words - 4 pages

Indian Economy 2010
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Introduction To Indian Economy:
Since the last two decades Indian economy is on a rise and has proved its mettle to the indian. India is one of the fastest growing economies and is often considered as one of the major super powers. India is an Asian nation with seventh largest land base and second largest in term of population. The economy of India is the largest economy in the indian by nominal GDP and the fourth largest by purchasing power parity (PPP).
Understanding Indian Economy:
Indian economy stands today as one of the influential and ...view middle of the document...

14% of the total workforce is engaged in manufacturing activities. Liberalization has brought in many private players and multi national organizations into manufacturing foray.
Services - Service Providers & Services Sector contribution in Indian Economy:
India is one of the leading service providers and services sector contributed 62.5% to the GDP and employ 34% of the work force. With large base of English speaking educated people, India has become a preferred destination for business services.
Agriculture Indian Economy:
Though agricultural activities employ 52% of the total work force yet it contributes only 17.5% to the total GDP. Mostly, agriculture is carried out using traditional methods and farmers are dependent on heavily on monsoons. Green revolution and white revolution has given a boost to this sector but it is yet embrace technology on a large scale.
Banking and Finance - Indian Economy:
India has one the largest network of bank branches and most of the people in India enjoy banking facilities. India has a robust banking economy which was proved by the fact that it remained largely unaffected by the global recessions.
External Trade and Investments:
Balance of Payments:
India’s balance of payment has been in RED since independent and though growing exports in post-liberalization era is expected to bring it down, the current rising oil bill is making it look difficult.
Foreign Direct Investments (FDI):
India is the preferred destination for FDI since liberalization....

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