Sun. Sep 25th, 2022
indian economy .

Indian Economy

Intro.

All the world knows that the Indian economy is the biggest economy after Russia, China, and the USA. In this regard, India is a very important country for all world countries.

Indian Economy
Indian Economy

India is itself a huge population and land area country also a big economy and the biggest importer. In this article, we see in detail the Indian general overview, Its economy, and more things related to India. So first we start our discussion with an Indian general overview.

Indian country general overview

As we earlier discussed that India is a very big country by population and economy then India become a very important country for powerful nations for example the USA, China, Russia, and others. As we know that India’s biggest and economic hub city is Mumbai.

India has huge ethnic cultural and religious diversity so many languages are spoken in India. For example, the Indian Nation language is Hindi by many other languages are spoken in India i.e English, Urdu, Tamil, Telugu, Marathi, Gujarati, and many other languages.

A rough stats shows us that around 440 regional languages are spoken in India. Those stats show that India has huge ethnic diversity. Anyways, As we earlier discussed that India is a huge diverse so in this context India has huge religious diversity Almost all major religion-related peoples live in India.

If we discuss stats related to the religions, approx, 80% of Hindus live in India by the way Hindus are Majority and ruling religion in India. Other major religions are 14% Muslims, 2.5% Christians and many other religions-related peoples live in India.

As we earlier discuss that India is a Hindu majority country its president and prime minister are also a Hindus. India’s current president’s name is Ram Nath Kovind and its prime minister’s name is Narendra Modi. India is a huge populous country and also has a huge land area.

If we see its total land area we see that its total land area is approx. 3,287,262 km2 and also India has ranked 7th by total land area. As we earlier discussed that India is a huge country by population. If we see the stats of India’s population, so India’s approx. the population is 1,352,642,500 according to the year 2020 and also India has ranked 2nd in the world country by population. 

Indian Economy

India is a big economy in the world. In this section, we discuss India’s economy. So India is a developing and fastly emerging country and Indian economy is growing very fastly last two decade. The biggest contribution to the Indian economy is Its IT sector and business sector.

India is the largest IT exporter in the world. Stats show that Indian IT exports are approx. $100 billion every year last decade so India is the biggest IT exporter and a big Human resource by IT professionals. When we talk about Its GDP, India has a huge GDP in the world countries.

India’s total GDP is $3.2 trillion according to the year 2022 and these numbers are very huge, his GDP makes India a big economy in the world. If we see its GDP rank, so Its GDP rank is 6th in the world and also India a 6th largest economy by their GDP figures.

As we earlier discussed that India is the fastest-growing economy in the world and its GDP growth rate is approx. 9% in the year 2021 and this growth rate is very big and surprising for world countries. If we talk about the Indian population economic standards, India’s GDP per capita is $2,300 according to the year 2022 stats.

These stats show us that India’s people’s economic conditions are on average compared to other developed countries and also India has 145th rank by its GDP per capita. So according to their stats of India’s GDP per capita, these stats are not satisfied by hope is bright that as India growing very fastly its GDP per capita is also growing very fastly. India’s other big problem is growing prices.

As we know that India’s inflation rate is around 4.5% the population faces a big problem by increasing the prices of living things. Currently, the petrol price is Rs.235 Which shows that India has faced a big problem by increasing prices. Big prices of petrol increase other all daily products and India peoples face very difficulty for purchasing living products.

Poverty is another bi issue for India.  India has faced a huge poverty population. Approx. 22% of India’s population live in the worst poverty and this big poverty is a difficult problem for the Indian economy. Unemployment is another big issue for the Indian economy.

India’s population employment rate is 7% and 7% is a huge population of India that are unemployed. This huge unemployed population is a big problem for the Indian economy and also for the Indian government. 

Industries in India

As we earlier discussed that India is a big economy n the world. India’s textile industry is a very big industry in India. The textile industry gives huge employment for the Indian population. Chemical and food processing is another big industry in India.

India has a population cover 1.3 billion so the need for food for the Indian population is also very high. In this context, India has big food and food product industry and India is also a big exporter of food products for Arab countries.

India’s other big industries are Information technology, handmade products, leather and leather products, iron and steel, machinery, power sector, cars and Automobile, and many other industries. Also, India is a huge exporter of the world. India’s exports are $100 billion according to the year 2021.

India’s Imports are $450 billion in the year 2021. India is also a big importer of military equipment. India imports military equipment from the USA, France, Russia, and other countries. India is a big importer of Chinese products. Every year India imports billions of dollars of Chinese products. 

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