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Any country’s net
worth is determined by the health of its economy. According to
the experts, India’s economy is the fourth largest in the world.
This is measured by what is known as the Purchasing Power Parity
(PPP).This measurement is an indication of the average
purchasing power of India as a nation, through the financial
year under study. The three nations ahead of the economy of
India are - USA, China and Japan.
Today this nation’s economy has two major feathers in its cap.
These are:
-It is the twelfth largest nation when measured in terms of the
USD exchange-rate
-It is the second fastest growing nations in terms of the GDP,
being at the growth rate of approximately 9 per cent. |
However, the major economy weakness of
India is its population. Because of its large and ever growing
population the nations records a fairly low per capita income. And this
has caused the World Bank to categorize the Indian economy as a
low-income one.
Interestingly, the economy of this nation is amongst the most diverse in
the world and encompasses the following:
-Agriculture
-Handicrafts
-Textile
-Manufacturing
-Innumerable services
Almost two-thirds of the Indian working populace earn their livelihood
through agriculture - directly or indirectly. However, it needs to be
noted that services are a sector, which is steadily growing. Another
important trend in the recent years is that the nation is being
considered as a 'back office' for numerous global companies outsourcing
their services here. This is because of the increasing number of
educated and employable population.
The good news is that India growing economy is steadily reducing the
rate of unemployment and is creating an important place for the country
on the world map of the super economies. It is a matter of time that the
economic situation of India would see only prosperity..
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