Growth India

 Growth India 

India is a very fast growing economy. And development in India is also in progress.India's economy is known as middle income developing market economy. It is the fifth largest economy in the world by nominal GDP and the third largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), on a per capita income, India ranked 142nd from GDP (nominal) And ranked 124th from GDP (PPP) in 2020. Continuing governments promoted protectionist economic policies with widespread state intervention and economic regulation that characterized positivism as the license raj. 145. The end of the Cold War and the rapid balance of payments crisis in 1991 led to the adoption of macroeconomic liberalization in India.

The long-term growth perspective of the Indian economy remains positive due to its young population and corresponding low dependency ratio, healthy savings and investment rates, and is increasing globalisation in India and integration into the global economy.

India is the largest manufacturer of generic drugs, and its pharmaceutical sector meets more than 50% of the global demand for vaccines. The Indian IT industry is a major exporter of IT services with revenues of $ 191 billion and employs more than four million people. India's chemical industry is highly diversified and is estimated at 1 industry India's billion dollars. 184 tourism industry contributes about 9.2% of India's GDP and employs over 42 million. 85 India ranks second globally in food and agricultural production, while agricultural exports stood at $ 35.09 billion. Construction and real estate sector ranks third

  14 major sectors in terms of direct, indirect and induced impacts in all sectors of the economy. The Indian textile industry is estimated at $ 100 billion and accounts for 13% of industrial production and 2.3% of India's GDP, while it employs over 65 million people. India's telecommunications industry is the world's second largest by number of mobile phones, smartphones and Internet users. It is the 25th largest oil producer in the world and the third largest oil consumer. Indian automobile industry production is the fifth largest in the world since 190. It is valued at $ 1.1 trillion in the retail market, which contributes more than 10% to India's GDP and is one of the world's fastest growing e-commerce markets. India has the fourth largest natural resources in the world, contributing 11% of the country's industrial GDP and 2.5% of the total GDP in the mining sector.