Economy of India
Economy of India
FreeThe Economy of India is the tenth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). The country is one of the G-20 major economies, a member of BRICS and a developing economy that is among the top 20 global traders according to the WTO.
India was the 19th-largest merchandise and the 6th largest services exporter in the world in 2013; it imported a total of $616.7 billion worth of merchandise and services in 2013, as the 12th-largest merchandise and 7th largest services importer. India's economic growth slowed to 4.7% for the 2013–14 fiscal year, in contrast to higher economic growth rates in 2000s.The Indian Finance Ministry projects the GDP growth for fiscal 2014 will be 5.5%.
IMF projects India's GDP to grow at 5.6% over 2014-15.Agriculture sector is the largest employer in India's economy but contributes a declining share of its GDP (13.7% in 2012-13).
