Indian Economic Indicators
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Indian Economic Indicators
Growing domestic demand and increased production have changed the Indian economy. GDP has picked up, trade has become global and the services sector has led change by throwing its gates open to outsourcing. India’s educated and English speaking population became the biggest impetus that the economy needed. Indian economic indicators are pointing towards the country’s transition to a developed economy. Trade has risen by more than 375% since the adoption of the liberalization policies.[br]
Indian Economic Indicators
India’s gross domestic product (purchasing power parity) was $3.561 trillion in 2009. It was up from $3.344 trillions in 2008 and $3.113 trillion in 2007. India ranked fifth in the world in terms of its purchasing power.
The official exchange rate GDP was $1.095 trillion in 2009 with per capita GDP at $3,100. This was an increase from $2,900 in 2008 and $2,800 of 2007. However, India’s world ranking was 164 due to its high variance in income and disparate wealth distribution.
Real GDP growth was 6.5% in 2009, down from 7.4% and 9% in 2008 and 2007, respectively. The largest contribution towards GDP came from the services sector, which contributed 58.4% of the total GDP. The industry sector contributed 25.8% and agriculture added 15.8% to the GDP. Services kept its position as the biggest employer as well for the huge workforce of 467 million people. Services employed 62.6%, while industry generated 20% and agriculture pitched in 17.5% of the total jobs.
Indian Economic Indicator: Inflation
Through a strict credit policy and stringent fiscal arrangements, India could somewhat evade the recession. However, inflation has been a cause of concern. The 2009 figure confirmed inflation at 10.7%, up from 8.3% in 2008. With industrial growth at 7.6% in 2009, India ranked as the twelve most progressive country in the world.
Indian Economic Indicator: FDI[br]
The modern and liberalized Indian economy is a hotspot for FDI (foreign direct investment). Every year the volume seems to grow larger and 2009 was no exception. With FDI growing from $123.4 billion in 2008 to $161.3 billion in 2009, the Indian economy has become the favorite spot for global investors to hedge their investments and make profits in an economy where disposable income is rising steadily.
