Short India’s overview:
In this article, we will discuss the Indian GDP. Its official name is the Republic of India. Her capital name is New Delhi. His largest city names are Mumbai and Delhi. Its official languages are Hindi and English. Her number of Native languages is 447. By religion, Hinduism 79%, Islam 14%,Christianity 2.3%, Sikhism 1.7% and others.
Area and population have a huge impact on any country’s GDP so we see the Indian area and its population. The total area of India is 3,287,260 km2. Its total population is 1,352,642,000 by the year 2018. Its population density is 411.7/km2 which is considered very high in the world.
Indian economy overviews:
The Indian currency is called the Indian rupee. The inflation rate in India is 6.6% by the year 2021. its population below the poverty line rate is 22% which is considered very high. Its HDI score is 0.475 by the year 2019 which is low compare to other developed nations. Its labor force is 500,995,000 by the year 2020. The unemployment rate in India is 9.5 by the year 2021. Its total Foreign Reserves are $610.800 billion by the year 2021
Imports and Exports:
Its total Exports are $315 billion by the year 2019-2020. His main exports goods are agriculture products, fuel, and mining, and others. Her main export partners are the US, the European Union, United Arab Emirates, China, Hong Kong, and others.
Its total imports are $475 billion by the year 2019-2020. His main imports goods are Agriculture products, Fuels, and others. Her main imports partners are China, European Union, the united states, united Arab emirates, Saudi Arabia, and others
India’s total GDP is $3.05 trillion (nominal) by the year 2021 and $10.2 trillion(PPP) by the year 2021. Its GDP rank is 6th (nominal) by the year 2020 and 3rd (PPP) by the year 2020. Its GDP growth rate is 1.6% by the year 2021. Indian GDP per capita is $2,190(nominal) by the year 2021 and $7,340 (PPP) by the year 2021. Its GDP per capita rank is 145th (nominal) by the year 2021 and 122nd (PPP), by the year 2021. When we talk about its GDP by sector, Agriculture is 16%, industry 25%, and services are 50%.
Here we discuss India’s main industries that have a huge impact on India’s GDP.
The contribution of the services sector in India to the Country’s GDP is 60% and a total of 25% of India’s labor force is associated with the services sector
India’s agriculture sector is the second largest in the world by output. A total of 50% Indian workforce is associated with the agriculture sector. The contribution of the Agriculture sector to India’s total GDP is around 18%.
India has the fifth largest market for automobiles by the year 2020. Around 3.50 million units sold in passenger and commercial vehicles by the year 2020. Top Automobile Companies in India are Tata Motors, Hindustan Motors Limited, Ashoke Leyland, Maruti Suzuki India Limited, Hyundai Motor India Limited, Bajaj Auto, and others.
Information technology Sector:
IT Industry in India has two major fields, IT Services and Business process outsourcing. The IT sector’s contribution to Indian GDP is 7.8% by the year 2017. Its total IT exports are US$90 billion by the year 2019. The total workforce in the Indian IT sector is 4.30 million by the year 2020.
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