India GDP figures
In the last 50 years, India's GDP has increased their GDP figures rapidly, particularly in the last 20 years. According to figures from trading economics The Gross Domestic Product in India was worth 1729.01 billion US dollars in 2010, according to a report published by the World Bank. The GDP value of India is roughly equivalent to 2.79 percent of the world economy.
India GDP averaged 339.84 billion USD reaching an all time high of 1729.01 billion USD in December of 2010 and a record low of 36.61 billion USD in December of 1960. The gross domestic product (GDP) measures of national income and output for a given country's economy.
Population
India's population is growing at an alarming rate in the last 3 years India's population has almost doubled in the last 50 years, and by 2020 they will surpass China to have the worlds biggest population. Currently the Indian population stands around 1.2246 Billion which is the second largest population in the world. According to statistics from trading economics India's Population averaged 780.6300 Million reaching an all time high of 1210.2000 Million in December of 2010 and a record low of 434.8500 Million in December of 1960.
The total population in India was last reported at 1210.2 million people in 2010 from 434.9 million in 1960, changing 178 percent during the last 50 years. India has 17.54 percent of the world´s total population which means that one person in every 6 people on the planet is a resident of India.
The total population in India was last reported at 1210.2 million people in 2010 from 434.9 million in 1960, changing 178 percent during the last 50 years. India has 17.54 percent of the world´s total population which means that one person in every 6 people on the planet is a resident of India.
Imports and Exports
India's economy is a major growing economy and the number of Imports and exports on a yearly basis.
This shows the biggest trading partners that America has in comparison to other countries this list in the list India are ranked the 15th biggest trading partner. This shows that India probably trades with its more local countries such as China and Russia. India's main Imports from other countries is Electronic goods, Oil, Metals, Gold and Fertilizing equipment. India's main export goods are Machinery, Textiles, Chemicals and Cosmetics.
50 facts about the Indian economy
Type of economy
India is a rapidly growing economy, which currently stands as the 5th largest economy in the world. India uses a mixed type of economy, this is when a country uses a combination of both public and private companies that consume the vast majority of their market. Other examples of countries that use this system is the UK. Although this encourages many businesses to work in his country there are many different wage inequalities in this type of system, especially between public and private companies. This could effectively slow down the rate of growth for India as a country.
India's law and legislation
India has very strict law and legislations in their county especially strict laws in relation to labour. One of the main laws Industrial disputes act. This act states that if a business has over 100 workers they must go through the government before sacking people or closing down the business. This can be a time consuming process because the government may require document.
Joint Venture
A joint venture is a contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise. Many of the company's in India have joint ventures these are effective because businesses may share the same resources without sharing their profit margins. This reduces the costs for many chinese businesses because they spend less money on essentials such as company machinery, raw materials and potentially the same property.
Economic factors
Exchange rates
50 facts about the Indian economy
- India is the world's largest, oldest, continuous civilization.
- India is the world's Largest democracy.
- India never invaded any country in her last 1000 years of history.
- India invented the number system. Zero was invented by Aryabhatta.
- When many cultures were only nomadic forest dwellers over 5000 years ago, Indians established Harappan culture in Sindhu Valley (Indus Valley Civilization)
- There are 300,000 active mosques in India , more than in any other country, including the Muslim world
- Sanskrit is the mother of all the European Languages . Sanskrit is the most suitable language for computer software - a report in Forbes magzine July 1987.
- Chess (Shataranja or AshtaPada) was invented in India.
- India is one of the few countries in the world, which gain independence without violence.
- India has the second largest pool of Scientist and Engineers in the World.
- India is the largest English speaking nation in the world.
- India is the only country other than US and Japan, to have built a super computer indeigenously.
- India has the largest number of Post Offices in the world
- The largest employer in the world is the Indian Railways , employing over a million people
- India was one of the richest countries till the time of British rule in the early 17th Century. Christopher Columbus, attracted by India's wealth, had come looking for a sea route to India when he discovered America by mistake.
- The Baily Bridge is the highest bridge in the world. It is located in the Ladakh valley between the Dras and Suru rivers in the Himalayan mountains. It was built by the Indian Army in August 1982
- The Vishnu Temple in the city of Tirupathi built in the 10th century, is the world's largest religious pilgrimage destination. Larger than either Rome or Mecca, an average of 30,000 visitors donate $6 million (US) to the temple everyday.
- Varanasi, also known as Benaras, was called "the Ancient City" when Lord Buddha visited it in 500 B.C., and is the oldest, continuously inhabited city in the world today.
- Martial Arts were first created in India, and later spread to Asia by Buddhist missionaries.
- Yoga has its origins in India and has existed for over 5,000 years.
For more facts visit : http://trak.in/tags/business/2007/08/16/top-20-indian-business-facts-know-great-indian-reference-points/
Type of economy
India is a rapidly growing economy, which currently stands as the 5th largest economy in the world. India uses a mixed type of economy, this is when a country uses a combination of both public and private companies that consume the vast majority of their market. Other examples of countries that use this system is the UK. Although this encourages many businesses to work in his country there are many different wage inequalities in this type of system, especially between public and private companies. This could effectively slow down the rate of growth for India as a country.
India's law and legislation
India has very strict law and legislations in their county especially strict laws in relation to labour. One of the main laws Industrial disputes act. This act states that if a business has over 100 workers they must go through the government before sacking people or closing down the business. This can be a time consuming process because the government may require document.
Joint Venture
A joint venture is a contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise. Many of the company's in India have joint ventures these are effective because businesses may share the same resources without sharing their profit margins. This reduces the costs for many chinese businesses because they spend less money on essentials such as company machinery, raw materials and potentially the same property.
Economic factors
Exchange rates
This exchange rate shows that the India currency is very weak in comparison to the the the British Pound. This is good for the Indian economy because other countries are more likely to do business with them as they are paying less compared to other countries with a stronger currency. However, this means that they won't get a lot of money for making a lot of sales.
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