Economy Of India:

Economy:

 

 

• Overview:  
• India's economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of support services. About a quarter of the population is too poor to be able to afford an adequate diet. India's international payments position remained strong in 2001 with adequate foreign exchange reserves, and moderately depreciating nominal exchange rates. Growth in manufacturing output has slowed, and electricity shortages continue in many regions. India has large numbers of well-educated people skilled in English language; India is a major exporter of software services and software workers. 
• GDP:   purchasing power parity - $2.5 trillion (2001 est.) 
• GDP - real growth rate:   5% (2001 est.) 
• GDP - per capita:   purchasing power parity - $2,500 (2001 est.) 
• GDP - composition by sector:  
• agriculture: 25%
• industry: 26%
• services: 49% (2001) 
• Population below poverty line:   25% (2001 est.) 
• Household income or consumption by percentage share:  
• lowest 10%: 3.5%
• highest 10%: 33.5% (1997) 
• Distribution of family income - Gini index:   37.8 (1997) 
• Inflation rate (consumer prices):   3.5% (2000 est.) 
• Labor force:   406 million (1999) 
• Labor force - by occupation:   agriculture 60%, services 23%, industry 17% (1999) 
• Unemployment rate:   4.4% (1999) 
• Industries:   textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software   
• Agriculture - products:   rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes; cattle, water buffalo, sheep, goats, poultry; fish 
• Exports:   $44.5 billion (f.o.b., 2001) 
• Exports - commodities:   textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures 
• Exports - partners:   US 22.8%, Hong Kong 5.8%, Japan 5.3%, UK 5.3%, Germany 4.6% (2000) 
• Imports:   $53.8 billion (f.o.b., 2001) 
• Imports - commodities:   crude oil, machinery, gems, fertilizer, chemicals   
• Currency:   Indian rupee (INR) 
• Exchange rates:   Indian rupees per US dollar - 48.336 (January 2002)
• Fiscal year:   1 April - 31 March