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    Indian Economy

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    Sona Dutta
    This document provides economic and industry data for India. It states that India has the 7th largest nominal GDP in the world but a per capita GDP of $2,134, indicating it is a developing economy. Agriculture accounts for 17.32% of GDP and employs 47% of the workforce, making it an important sector. Manufacturing accounts for 26% of GDP and India has the 6th largest industrial manufacturing output globally. Energy consumption is the 3rd highest in the world and coal and oil make up 85% of energy use. Gems and jewelry are also major industries, with India being a top center for polishing and manufacturing jewelry.

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    Indian Economy

    Uploaded by

    Sona Dutta
    29 views2 pages
    This document provides economic and industry data for India. It states that India has the 7th largest nominal GDP in the world but a per capita GDP of $2,134, indicating it is a developing economy. Agriculture accounts for 17.32% of GDP and employs 47% of the workforce, making it an important sector. Manufacturing accounts for 26% of GDP and India has the 6th largest industrial manufacturing output globally. Energy consumption is the 3rd highest in the world and coal and oil make up 85% of energy use. Gems and jewelry are also major industries, with India being a top center for polishing and manufacturing jewelry.

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    This document provides economic and industry data for India. It states that India has the 7th largest nominal GDP in the world but a per capita GDP of $2,134, indicating it is a developing economy. Agriculture accounts for 17.32% of GDP and employs 47% of the workforce, making it an important sector. Manufacturing accounts for 26% of GDP and India has the 6th largest industrial manufacturing output globally. Energy consumption is the 3rd highest in the world and coal and oil make up 85% of energy use. Gems and jewelry are also major industries, with India being a top center for polishing and manufacturing jewelry.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    29 views2 pages

    Indian Economy

    Uploaded by

    Sona Dutta
    This document provides economic and industry data for India. It states that India has the 7th largest nominal GDP in the world but a per capita GDP of $2,134, indicating it is a developing economy. Agriculture accounts for 17.32% of GDP and employs 47% of the workforce, making it an important sector. Manufacturing accounts for 26% of GDP and India has the 6th largest industrial manufacturing output globally. Energy consumption is the 3rd highest in the world and coal and oil make up 85% of energy use. Gems and jewelry are also major industries, with India being a top center for polishing and manufacturing jewelry.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Nominal GDP: 7th largest in the world; per capita= $2,134 (developed economy = $12,000 or more)

    PPP: And 3rd largest; per capita= $7,783

    the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per
    capita income, level of industrialization, amount of widespread infrastructure and general standard of living.

    GDP by sector Agriculture: 17.32%


    Industry: 29.02%
    Services: 53.66% (2016 est.)

    Inflation (CPI)  2.05% (January 2019)


    Labour force by occupation Agriculture: 47%
    Industry: 22%
    Services: 31% (FY 2014 est.)
    Main industries Textiles
    chemicals
    food processing
    steel
    cement
    mining
    petroleum
    machinery
    software
    pharmaceuticals
    transportation equipment
    Ease-of-doing-business rank  77 (2019)

    External

    Exports $303.4 billion (2017–18)


    Agricultural products 12.8%
    Export goods
    Fuels and mining products
    13.8%
    Manufacturers 70.5%
    Others 2.9%
    Main export partners  European Union 17.4%
     United States 16.1%
     United Arab
    Emirates 9.6%
     Hong Kong 5%
     China 4.2%
    Other 47.8%
    Imports $465.6 billion (2017–18)
    Import goods Agricultural products 8.1%
    Fuels and mining products
    30%
    Manufacturers 51.7%
    Other 10.2%
    Main import partners  China 16.6%
     European Union 10.4%
     United States 5.7%
     United Arab
    Emirates 4.9%
     Saudi Arabia 4.6%
    Other 57.9%
    Foreign reserves $400.2 billion (1 February 2019)[34](9th)
    AGRICULTURE-
    India ranks second worldwide in farm output. Crop-yield-per-unit-area of all crops has grown since 1950, due to the
    special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology,
    application of modern agricultural practices and provision of agricultural credit and subsidies since the Green
    Revolution in India. However, international comparisons reveal the average yield in India is generally 30% to 50% of
    the highest average yield in the world.
    India is the largest producer of milk, jute and pulses, and has the world's second-largest cattle population with
    170 million animals in 2011. It is the second-largest producer of rice, wheat, sugarcane, cotton and groundnuts, as
    well as the second-largest fruit and vegetable producer, accounting for 10.9% and 8.6% of the world fruit and
    vegetable production, respectively. India is also the second-largest producer and the largest consumer of silk,
    producing 77,000 tons in 2005. India is the largest exporter of cashew kernels and cashew nut shell liquid (CNSL).

    India has the second-largest amount of arable land, after the US, with 52% of total land under cultivation.
    Irrigation facilities are inadequate, as revealed by the fact that only 46% of the total cultivable land was irrigated as
    of 2016, resulting in farmers still being dependent on rainfall, specifically the monsoon season, which is often
    inconsistent and unevenly distributed across the country.

    MANUFACTURING AND INDUSTRY-

    Industry accounts for 26% of GDP and employs 22% of the total workforce. According to the World Bank, India's
    industrial manufacturing GDP output in 2015 was 6th largest in the world on current US dollar basis ($559 billion).

    ENERGY SECTOR-

    Primary energy consumption of India is the third-largest after China and the US with 5.3% global share in the year
    2015. Coal and crude oil together account for 85% of the primary energy consumption of India. India's oil
    reserves meet 20% of the country's domestic oil demand.
    Oil and natural gas fields are located offshore at Bombay High, Krishna Godavari Basin and the Cauvery Delta, and
    onshore mainly in the states of Assam, Gujarat and Rajasthan.

    GEMS AND JEWELLERY-

    India is one of the largest centers for polishing diamonds and gems and manufacturing jewellery; it is also one of the
    two largest consumers of gold. After crude oil and petroleum products, the export and import of gold, precious
    metals, precious stones, gems and jewellery accounts for the largest portion of India's global trade.

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