Indian Economy

Indian economy has recovered strongly despite three Covid waves as per a report by the US Treasury. It is the world's third-largest by purchasing power parity (PPP) and fifth-largest economy by nominal GDP. The economy can be referred as a middle-income developing market economy.

India ranked 128th by GDP (PPP) and 142nd by GDP (nominal). Since the beginning of the 21st century, the annual average GDP growth of India has been 6% - 7%. Between 2013 to 2018, Indian economy was the world's fastest growing major economy, surpassing China. It has enjoyed a rich legacy as it was the largest economy in the world for most of the two millennia from the 1st until the 19th century.In recent times, the Brand India initiative of the Government of India is one of the several measures that have been taken to boost the Indian economy.

FAQs about Indian Economy

Is Indian economy strong?
Yes, Indian economy is strong. It has recovered strongly despite three Covid waves as per a report by the US Treasury. It is on a growth path with predictions of GDP rise from $2.7 trillion in 2021 to $8.4 trillion by 2030.
What is Indian economy ranking?
India is the sixth-largest economy after U.S., China, Japan, Germany and the U.K. India's nominal GDP has been predicted to rise from $2.7 trillion in 2021 to $8.4 trillion by 2030.
What is India’s main export?
Petroleum products, gems and jewelry, and drug formulations are the main exports of India. Other major exports items include machinery, tea, coffee, spices, cereals, rice, iron and steel, aluminum, cotton, and textiles.
What is India’s main import?
Mineral fuels, oil, distillation products, pearls, precious stones, metals, copper, fertilizer, chemical products, machinery, nuclear reactors, boilers, edible nuts and fruits, pulp of wood, dyeing extracts, edible vegetables and certain roots and tubers are some of the main imports of India.
Is there growth of Indian economy?
According to the National Statistical Office (NSO) the Indian economy grew by 8.7 per cent during fiscal year 2021-22. It has grown by 20.3 per cent, 8.5 per cent and 5.4 per cent, respectively, in the first three quarters of FY22.

Indian Economy

FAQs about Indian Economy

Is Indian economy strong?

What is Indian economy ranking?

What is India’s main export?

What is India’s main import?

Is there growth of Indian economy?