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TOPIC -43

Indian GDP

Quick points to remember

• The economy of India is a mixed developing economy and also one of the
fastest growing service sectors in the world.
• India is the 6 largest economy in terms of nominal GDP while ranks 3 in
th
rd
terms of per capita GDP.
• After the economic liberalization in 1991, India has constantly faced the
growth of 6-7% in the GDP annually.
• In the fiscal year 2015-2016, India was ranked first in the World Bank’s
growth outlook for the first time. During this year, the economy of India
grew 7.6%.
• During the British rule, some social democratic policies ruled India but after
the 1991, during the economic liberalization, India moved towards market
based economy. By 2008, India launched itself as one of the fastest
growing economies of the world.

Introduction

Since 2008, India has been maintaining its fast paced development in different
sectors. From IT to BPO, from healthcare to biotechnology, India’s GDP has
increased due to its increasing success in these fields. The World Bank has
announced India as a rapidly growing economy and will regain its 7.5%GDP in two
years. India has also conquered China in terms of economical growth as it is
predicted that compared to 7.3% of India’s GDP growth, China’s annual GDP growth
will slow down to 6.6%.

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