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Indian economy

Updated on August 27, 2014
Wheel of the Cart of Indian farmer
Wheel of the Cart of Indian farmer
Increasing Economy
Increasing Economy
Indian currency in various colors.
Indian currency in various colors.
Growing economy of India
Growing economy of India

Economic of India

An economy is mainly divided into three sectors:-

  • Agriculture sector
  • Industrial sector
  • Service sector

To calculate the economy of a Nation we have to count the income coming from these sectors during a year.

Overview of the Indian Economy:-

Indian economy is totally depended on agriculture. About 40-50 percent of the total income is coming from agriculture sector and rest 50 percent is from other sectors. India is a country of natural resources like coal, petroleum, iron bauxite etc. From these natural resource countrie's economic income also increases.

Indian Economy Rate:-

Today India is the six fastest growing economies in the world. As in India we can see the industries are developing side by side more production is also increasing. With increase in the production India's export and import increases and in turn India's economy increases.

According to the IMF India is the 19th largest exporter and the 10th largest importer in the world. India has also 8.1 percent gross domestic product (GDP) growth rate. But at present it is increased by 9.2 percent.

Economy coming from Abroad:-

In India the people those who are highly educated and are fluent in English language had become a major exporter of software services, financial services, and software Engineers.

If we compare from our past then we can see that our economy is much better. If these kinds of productions and export or import will be continued then we can see in recent times India will be in the developed country's list in the world.

India's Economy Overview:-

India's Industrial economy is gathering momentum on the back of improved output of eight core sector industries- coal, crude oil, refining steel, cement, natural gas, fertilizers and electricity which at 8 percent in 2013, rose at its fastest pace in a year.

Some Important developments in India are:-

  • Indian companies signed as many as 360 private equity deals of US$ 8.9 billion during the January-October 2013.
  • Indian corporates raised Rs 1,700 billions through commercial papers during the first half of fiscal year 2013-14.
  • Exports from India from August 2013 were valued at Rs 1,652.02 billion registering a growth of 28.53 percent as compared to Rs 1285.35 billion during August 2012.
  • Foreign exchange reserves in India rose in the ending October 2013.

Where to Invest:-

India is the best place for investment according to a survey by global consultancy firm. India has emerged as a major investment destination for domestic as well as international investors. The country is expected to be the largest source of emerging market multinational enterprises by 2040.

India's Rank in the world:-

India is the fifth best country in the world for dynamic growing businesses. Indian companies are gaining better competence by expanding their international presence across the globe.

Various Pact signed by Indian Government:-

  • India and China signed a key border defence pact called the Border Defence Cooperation Agreement to avoid to avoid face offs between the two armies along the disputed line of Actual Control.
  • India and Germany signed Umbrella Pact on energy environment on financial and technical cooperation in the field of energy, environment and in the management of natural resources.
  • India and Singapore have signed a fresh agreement to extend the use of training and exercise facilities in India by the Singapore Army for a further period of five years from August 2013.

And many more agreement India signed with other countries to increase the economy and also for safety measures.

Proud to be an Indian.

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© 2014 Praveen Pal

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    • Pkumarpal8 profile imageAUTHOR

      Praveen Pal 

      4 years ago from New Delhi

      You are correct sir, at present the economy of India is increasing but the way it is increasing is also good, but the unemployment situation is under control. I think if this situation of unemployment will go down then only India will obviously become a Develped country. and thanx again Pramod sir for commenting myour views.

    • pramodgokhale profile image

      pramodgokhale 

      4 years ago from Pune( India)

      Good topic and once again i admire you. India is a country of vast potential and opportunities and democratic set up with mixed economy , fertile ground for investment.

      If we keep our manufacturing growing then we will have key of global economy in our hand as China did.At present Indian youths are more inclined to IT and service related jobs but we need core sector of manufacturing to enhance so we can boast self reliant in advanced technologies.( Recently launched Indian make Cryogenic rocket, technology denied to us we made it)

      We have talent but we lost it to west, Satya Naddela of Microsoft is an example.

      To make India powerful economic bloc, then first we search our own innovative people and investment then only we will yield results.

      My last comment on your article election-2014 , my opinion, do not take it seriously.

      I am reading your other articles and will leave comment later.

      thank you

      pramod gokhale

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