Indian Economy

Indian Economy

The economy of India is the 7th largest in the world by nominal GDP and the 3rd largest by Power Parity. India became the world's fastest growing major economy from the last quarter of 2014, replacing China. The long term growth perspective of the Indian economy is moderately positive due to its young population. India has the potential to become third largest economy by the next decade.

India is having one of the fastest growing sectors in the world with the annual growth rate of about 9%. We know that India is an agro-based country. India also ranks second in worldwide farm output. Due to innovations coming up one after the other the agricultural sector will soon be experiencing a technological revolution, which will surely make us rank  the first in worldwide farm output.

The industrial sectors and the service sectors are also growing very rapidly. Due to the introduction of IT sector, the employment opportunities have gradually increased, the employment % of the service sector is growing very rapidly. India's Industrial manufacturing  GDP output in 2012 was the 10th largest in the world. It is sure that with the introduction of 'Make in India' program, investments in our country will surely be increasing and by 2030 our economic sectors will be developed and will make our country one of the world's best economic powers.