Economy Of India - India Information

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Economy Of India
India Information - Country Guides

Economy overview	India's economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of support services. Government controls have been reduced on foreign trade and investment, and privatization of domestic output has proceeded slowly. The economy has posted an excellent average growth rate of 6% since 1990, reducing poverty by about 10 percentage points. India is capitalizing on its large numbers of well-educated people skilled in the English language to become a major exporter of software services and software workers. Despite strong growth, the World Bank and others worry about the continuing public-sector budget deficit, running at approximately 60% of GDP.
GDP	purchasing power parity - $3.033 trillion (2004 est.)
GDP - real growth rate	8.3% (2004 est.)
GDP - per capita	purchasing power parity - $2,900 (2004 est.)
GDP - composition by sector	agriculture: 23.6% industry: 28.4% services: 48% (2002 est.)
Investment gross fixed	23.1% of GDP (2004 est.)
Population below poverty line	25% (2002 est.)
Household income or consumption by percentage share	lowest 10%: 3.5% highest 10%: 33.5% (1997)
Distribution of family income - Gini index	37.8 (1997)
Inflation rate consumer prices	3.8% (2004 est.)
Labor force	472 million (2004 est.)
Labor force by occupation	agriculture 60%, industry 17%, services 23% (1999)
Unemployment rate	9.5% (2004 est.)
Budget	revenues: $86.69 billion expenditures: $114.6 billion, including capital expenditures of $13.5 billion (2004 est.)
Public debt	59.7% of GDP (2004 est.)
Agriculture products	rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes; cattle, water buffalo, sheep, goats, poultry; fish
Industries	textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software
Industrial production growth rate	6.5% (2004 est.)
Electricity production	533.3 billion kWh (2001)
Electricity production by source	fossil fuel: 81.7% hydro: 14.5% other: 0.3% (2001) nuclear: 3.4%
Electricity consumption	497.2 billion kWh (2001)
Electricity exports	321 million kWh (2001)
Electricity imports	1.54 billion kWh (2001)
Oil production	732,400 bbl/day (2004 est.)
Oil consumption	2.13 million bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	4.33 billion bbl (2004)
Natural gas production	22.75 billion cu m (2001 est.)
Natural gas consumption	22.75 billion cu m (2001 est.)
Natural gas exports	0 cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	542.4 billion cu m (2004)
Current account balance	$3.41 billion (2004 est.)
Exports	$57.24 billion f.o.b. (2004 est.)
Exports commodities	textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures
Exports partners	US 20.6%, China 6.4%, UK 5.3%, Hong Kong 4.8%, Germany 4.4% (2003)
Imports	$74.15 billion f.o.b. (2003 est.)
Imports commodities	crude oil, machinery, gems, fertilizer, chemicals
Imports partners	US 6.4%, Belgium 5.6%, UK 4.8%, China 4.3%, Singapore 4% (2003)
Reserves of foreign exchange gold	$102.3 billion (2004 est.)
Debt external	$101.7 billion (2004 est.)
Economic aid recipient	$2.9 billion (FY98/99)
Currency	Indian rupee (INR)
Currency code	INR
Exchange rates	Indian rupees per US dollar - 46.5806 (2003), 48.6103 (2002), 47.1864 (2001), 44.9416 (2000), 43.0554 (1999)
Fiscal year	1 April - 31 March

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Economy Of IndiaIndia Information - Country Guides

Economy Of India
India Information - Country Guides