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Economy of India : ウィキペディア英語版
Economy of India


The Economy of India is the seventh-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP).〔(【引用サイトリンク】title=India )〕 The country classified as newly industrialized country, one of the G-20 major economies, a member of BRICS and a developing economy with approximately 7% average growth rate for the last two decades.〔(CIA Fact Book Indian Economy )〕 India's economy became the world's fastest growing major economy from the last quarter of 2014, replacing the People's Republic of China.〔(DNA,Indian economy overtaken china growth rate )〕
The long-term growth prospective of the Indian economy is moderately positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.〔(CIA )〕 The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century.〔(The diplomat )〕〔(The Linkedin )〕〔(Times of India )〕 And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape.〔(IMF,2015 Survey )〕 India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.3% in 2014-15 and expected to grow 7.5-8.3% in 2015-16.〔(Foreign Policy )〕
India has the one of fastest growing service sectors in the world with annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13.〔(The Hindu,India's Service Sector )〕 India has capitalized its economy based on its large educated English-speaking population to become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.〔 The IT industry continues to be the largest private sector employer in India.〔(Indian IT exports,Livemint, 2015 )〕〔(Service Exports,2014,Money Control )〕 India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15〔(Business Standard,India 4th largest start up hub )〕 The agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output.〔 The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14).〔(Share of different sectors in indian gdp )〕 The Indian auto industry is one of the largest in the world with an annual production of 21.48 million vehicles in FY 2013-14.〔(IBEF,Auto Industry ).〕 India has $600 billion worth of retail market in 2015 and one of world's fastest growing E-Commerce markets.〔(Retail Market,IBEF )〕〔(Business Standard )〕
India's two major stock exchanges, Bombay Stock Exchange and National Stock Exchange of India, had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges.〔(BSE )〕 India also home to world's third largest Billionaires pool with 97 billionaires in 2014 and fourth largest number of ultra-high-net-worth households that have more than 100 million dollars.〔(ZeeNews )〕〔(Wall Street Journal )〕
India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the G20, the International Monetary Fund, the World Bank, the World Trade Organisation, the Asian Infrastructure Investment Bank, the United Nations and the New Development BRICS Bank.
==Overview==
The combination of protectionist, import-substitution, Fabian socialism, social democratic-inspired policies governed India for sometime after the end of British occupation. The economy was then characterised by extensive regulation, protectionism, public ownership of large monopolies, pervasive corruption and slow growth.〔〔 Since 1991, continuing economic liberalisation has moved the country towards a market-based economy. By 2008, India had established itself as one of the world's faster-growing economies. Growth significantly slowed to 6.8% in 2008–09, but subsequently recovered to 7.4% in 2009–10, while the fiscal deficit rose from 5.9% to a high 6.5% during the same period. India's current account deficit surged to 4.1% of GDP during Q2 FY11 against 3.2% the previous quarter. The unemployment rate for 2012–13, according to Government of India's Labour Bureau, was 4.7% nationwide, by UPS method; and 3% by NSSO method.〔 India's consumer price inflation has ranged between 8.9 to 12% over the 2009-2013 period.〔(Inflation, consumer prices (annual %) ) The World Bank (2014)〕

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