Economy - overview:
India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to courruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, insufficient access to quality basic and higher education, and accommodating rural-to-urban migration.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding India on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of India Economy 2012 information contained here. All suggestions for corrections of any errors about India Economy 2012 should be addressed to the CIA.
$4.463 trillion (2011 est.)
country comparison to the world: 4
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$1.843 trillion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
7.8% (2011 est.)
country comparison to the world: 12
[see also: GDP - real growth rate country ranks ]
$3,700 (2011 est.)
country comparison to the world: 160
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 18.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.3%
[see also: GDP - composition by sector - industry country ranks ]
services: 55.6% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
487.6 million (2011 est.)
country comparison to the world: 2
[see also: Labor force country ranks ]
agriculture: 52%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 14%
[see also: Labor force - by occupation - industry country ranks ]
services: 34% (2009 est.)
[see also: Labor force - by occupation - services country ranks ]
9.8% (2011 est.)
country comparison to the world: 109
[see also: Unemployment rate country ranks ]
25% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 31.1% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
36.8 (2004)
country comparison to the world: 83
[see also: Distribution of family income - Gini index country ranks ]
30.7% of GDP (2011 est.)
country comparison to the world: 28
[see also: Investment (gross fixed) country ranks ]
revenues: $218.7 billion
[see also: Budget revenues country ranks ]
expenditures: $311.2 billion (2011 est.)
[see also: Budget expenditures country ranks ]
11.9% of GDP (2011 est.)
country comparison to the world: 199
[see also: Taxes and other revenues country ranks ]
-5% of GDP (2011 est.)
country comparison to the world: 148
[see also: Budget surplus (+) or deficit (-) country ranks ]
51.6% of GDP (2011 est.)
country comparison to the world: 50
note: data cover central government debt, and exclude debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; Debt instruments for the social funds are not sold at public auctions
[see also: Public debt country ranks ]
6.8% (2011 est.)
country comparison to the world: 148
[see also: Inflation rate (consumer prices) country ranks ]
5.5% (31 December 2010 est.)
country comparison to the world: 66
[see also: Central bank discount rate country ranks ]
11.8% (31 December 2011 est.)
country comparison to the world: 98
[see also: Commercial bank prime lending rate country ranks ]
$380.1 billion (31 December 2011 est.)
country comparison to the world: 14
[see also: Stock of narrow money country ranks ]
$1.538 trillion (31 December 2011 est.)
country comparison to the world: 11
[see also: Stock of broad money country ranks ]
$1.452 trillion (31 December 2011 est.)
country comparison to the world: 14
[see also: Stock of domestic credit country ranks ]
$1.616 trillion (31 December 2010)
country comparison to the world: 12
[see also: Market value of publicly traded shares country ranks ]
rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils, onions, potatoes; dairy products, sheep, goats, poultry; fish
textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals
6.7% (2011 est.)
country comparison to the world: 41
[see also: Industrial production growth rate country ranks ]
835.3 billion kWh (2009 est.)
country comparison to the world: 6
[see also: Electricity - production country ranks ]
600.6 billion kWh (2008 est.)
country comparison to the world: 6
[see also: Electricity - consumption country ranks ]
810 million kWh (2009 est.)
[see also: Electricity - exports country ranks ]
5.27 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
954,000 bbl/day (2010 est.)
country comparison to the world: 24
[see also: Oil - production country ranks ]
3.182 million bbl/day (2010 est.)
country comparison to the world: 5
[see also: Oil - consumption country ranks ]
825,600 bbl/day (2009 est.)
country comparison to the world: 23
[see also: Oil - exports country ranks ]
3.06 million bbl/day (2009 est.)
country comparison to the world: 6
[see also: Oil - imports country ranks ]
52.8 billion cu m (2010 est.)
country comparison to the world: 18
[see also: Natural gas - production country ranks ]
64.95 billion cu m (2010 est.)
country comparison to the world: 12
[see also: Natural gas - consumption country ranks ]
0 cu m (2010 est.)
country comparison to the world: 116
[see also: Natural gas - exports country ranks ]
12.15 billion cu m (2010 est.)
country comparison to the world: 21
[see also: Natural gas - imports country ranks ]
1.074 trillion cu m (1 January 2011 est.)
country comparison to the world: 25
[see also: Natural gas - proved reserves country ranks ]
-$62.96 billion (2011 est.)
country comparison to the world: 192
[see also: Current account balance country ranks ]
$298.2 billion (2011 est.)
country comparison to the world: 21
[see also: Exports country ranks ]
petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel
US 12.6%, UAE 12.2%, China 8.1%, Hong Kong 4.1% (2010)
$451 billion (2011 est.)
country comparison to the world: 13
[see also: Imports country ranks ]
crude oil, precious stones, machinery, fertilizer, iron and steel, chemicals
China 12.4%, UAE 6.5%, Saudi Arabia 5.8%, US 5.7%, Australia 4.5% (2010)
$345.8 billion (31 December 2011 est.)
country comparison to the world: 7
[see also: Reserves of foreign exchange and gold country ranks ]
$267.1 billion (31 December 2011 est.)
country comparison to the world: 30
[see also: Debt - external country ranks ]
$225 billion (31 December 2011 est.)
country comparison to the world: 21
[see also: Stock of direct foreign investment - at home country ranks ]
$114.2 billion (31 December 2011 est.)
country comparison to the world: 25
[see also: Stock of direct foreign investment - abroad country ranks ]
Indian rupees (INR) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12