20 astonishing facts about the Indian economy
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India is today one of world's fastest growing economies. The Indian economy is the world's tenth largest in terms of nominal GDP and the fourth largest in terms of purchasing power parity.
Purchasing power parity is the exchange rate that makes the cost of an item the same in two countries.
According to the International Monetary Fund, India's nominal GDP stands at $1.53 trillion. In terms of purchasing power parity, India's economy is the fourth largest in the world at $4.06 trillion.India could emerge as the world's third largest economy by 2030, benefiting from strong domestic demand and favourable demographics, according to a Standard Chartered Global Research study.
India is likely to grow faster, on average, than China over the next two decades, the study said.
Even as India faces major issues like poverty, unemployment and corruption, there are many reasons to feel good about its economic boom and prospertiy.Click NEXT to read on . . .
Image: A dancer in an traditional Indian dress poses in front of an elephant.
Photographs: Hannibal Hanschke/Reuters.
20 astonishing facts about the Indian economy
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India is likely to become the world's fastest growing economy in 2012.
The Asian giant's growth has been incredible with its average annual gross domestic product (GDP) growing at 5.8 per cent for the past two decades.
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Image: Indian policewomen march during the rehearsal for India's Republic Day parade.
Photographs: Ajay Verma/Reuters.
20 astonishing facts about the Indian economy
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India's average quarterly GDP growth was 8.40 per cent from 2004 to 2010, hitting a high of 10.10 per cent in September 2006 and a record low of 5.50 per cent in December 2004.
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Image: A college student cheers after getting her face painted with the tricolour Indian national flag.
Photographs: Ajay Verma/Reuters.
20 astonishing facts about the Indian economy
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The major industries include textiles, telecommunications, chemicals, food processing, steel, transport equipment, cement, mining, petroleum, machinery and software.
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Image: Children look out from the window of an old house near a construction site for a skyscraper.
Photographs: Reinhard Krause/Reuters.
20 astonishing facts about the Indian economy
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The equity market capitalisation of the companies listed on the Bombay Stock Exchange stood at $1.63 trillion as of December 2010, making it the 4th largest stock exchange in Asia and the 8th largest in the world.
The BSE has 5,034 listed Indian companies.
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Image: Commuters walk past the Bombay Stock Exchange (BSE) building in Mumbai.
Photographs: Danish Siddiqui/Reuters.
20 astonishing facts about the Indian economy
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Image: Hindu devotees carry a large statue of Ganesh, the Hindu deity of prosperity.
Photographs: Arko Datta/Reuters.
20 astonishing facts about the Indian economy
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Image: A mechanic dismantles the engine of a car at a workshop in Noida.
Photographs: Parivartan Sharma/Reuters.
20 astonishing facts about the Indian economy
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Mumbai has the world's 6th most expensive office location.
The housing and real estate sector including cineplex, multiplex, integrated townships and commercial complexes, etc, attracted a foreign direct investment of $ 9,405 million from April 2000 to January 2011.
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Image: Two towers are seen in the World Trade Centre complex in Mumbai.
Photographs: Punit Paranjpe/Reuters.
Here's why you can cheer India's success
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India stands third after the United States and China in the number of billionaires. The combined wealth of India's 55 richest is $246.5 billion, much higher than last year's total of $222.1 billion.
By 2030, India's middle class population will grow to more than 580 million.
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Image: Mukesh Ambani's residence, Antilla.
Here's why you can cheer India's success
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India ranks 51st in global competitiveness, 17th in financial market sophistication, 24th in the banking sector, 44th in business sophistication and 39th in innovation, ahead of several advanced economies.
India could well become a major economic power provided it performs true to its potential.
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Image: A new auto rickshaw is unloaded from a goods train at a storage facility at Sanand
Photographs: Amit Dave/Reuters.
Here's why you can cheer India's success
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According to Nasscom, India's IT and BPO exports jumped 18.7 per cent during fiscal 2011 to $59 billion. It now accounts for 26 per cent of India's overall exports and 11 per cent of services revenue.
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Image: India's IT and BPO exports jumped 18.7 per cent.
Here's why you can cheer India's success
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Image: Foreign skiers travel in cable car gondolas in Gulmarg.
Photographs: Danish Ismail/Reuters.
Here's why you can cheer India's success
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According to the Telecom Regulatory Authority of India (TRAI), the wireless user base grew 2.52 per cent to 771.18 million in January from 752.19 million in the previous month.
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Image: Visitors enjoy a ride at an amusement park in Noida,
Photographs: Parivartan Sharma/Reuters.
Here's why you can cheer India's success
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India is now the seventh largest vehicle producing nation in the world. Its automobile industry, the world's second-fastest growing, increased domestic sales by 26 per cent during 2009-10, and exports by 36 per cent during 2008-09.
The cheapest and the most expensive cars are now available in India.
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Image: Tata Nano.
Here's why you can cheer India's success
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Image: Air India.
Here's why you can cheer India's success
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Image: RBI headquarters.
Here's why you can cheer India's success
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The trade deficit for April 2011 was estimated at $8.98 billion which was lower than the deficit of $11.02 billion during April 2010.
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Image: Employees pack auto components at the factory in Noida.
Photographs: Adnan Abidi/Reuters.
Here's why you can cheer India's success
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Image: A Durga Puja pandal built in the shape of Eiffel Tower of Paris, in Ranchi.
Photographs: Rajesh Kumar Sen/Reuters.
Here's why you can cheer India's success
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Image: Central Bank of India.
Here's why you can cheer India's success
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Image: India ranks second worldwide in farm output.
Photographs: Reuters.
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