India has the ninth-largest economy in the world by nominal GDP (gross domestic product) and the third-largest by purchasing power parity (PPP).
India is today one of the world’s fastest growing economies. By 2030, India will become the world’s third largest economy with projected GDP (PPP) at $13,716 billion.
- India is the 19th-largest exporter and the 10th-largest importer in the world. During 2011–12, India’s foreign trade grew by an impressive 30.6% to reach $792.3 billion.
- Industry accounts for 28 per cent of the country’s GDP and employs 14 per cent of the total workforce.
- India is 11th in the world in terms of nominal factory output according to the CIA World Factbook.
- India is one of the G-20 major economies and a member of BRICS (five major emerging national economies: Brazil, Russia, India, China and South Africa).
- Textile manufacturing is the second largest source of employment after agriculture.
India is one of the fastest growing retail markets in the world. One of the top five retail markets in the world by economic value, the retail industry is estimated to be $450 billion.
- India ranks second worldwide in farm output. India is the largest producer in the world of milk, jute and pulses.
- India has the world’s third largest road network, covering more than 4.3 million kilometers and carrying 60 per cent freight and 87 per cent passenger traffic.
- Indian Railways is the fourth largest rail network in the world, with a track length of 114,500 kilometers.
- India has a national Teledensity rate of 74.15 per cent with 926.53 million telephone subscribers.
- Over half of India’s population is below 25 years. By 2020, the average age of an Indian is expected to be 29 years.
- India’s working-age population will increase by 240 million over the next two decades, according to Deutsche Bank. India has the second-largest pool of scientists and engineers in the world.
- India has 122 billionaires with net assets of Rs 500 crore and above, as of December 2012. The number of high net worth individuals (HNIs) in India is likely to more than double over the next 10 years, according to Knight Frank Wealth Report 2013.
- The production of passenger vehicles in India was recorded at 3.23 million in 2012-13 and is expected to grow at a compound annual growth rate (CAGR) of 13 per cent during 2012-2021, as per data published by Automotive Component Manufacturers Association of India (ACMA). Passenger car sales saw sales of 1.89 million units in 2012-13.
- Known as the Detroit of Asia, Chennai accounts for 35-40 per cent of India’s total automobile industry.
- With 1, 55,618 post offices and over 5, 66,000 employees, India has the largest postal network in the world.
- Domestic airlines carried 20.289 million passengers during January and April 2013.
The aviation sector in India has attracted foreign direct investment (FDI) worth $449.26 million from April 2000 to March 2013.
- With official gold holdings of 557.7 tonnes, India ranks 10th in gold reserves.
India’s foreign exchange reserves stand at $280.17 billion.
- The United States is India’s largest software services market. Software services exports are expected to grow by 10 per cent to around $75 billion during the current fiscal year.
- Indian Oil Corporation topped the list of eight companies from India in the Fortune 500 ranking. Reliance Industries, Tata Motors and Tata Steel also figured in list.
- India’s Rs 77 trillion banking industry has 87 scheduled commercial banks, 26 public sector banks, 20 private banks and 41 foreign banks.
- People now are shopping online, paying bills online, Paying even fee for schools, colleges or clubs online through credit cards, debit cards, Net Banking and E-wallets and even through smartphones or android app which increase the population of India coming on digital transaction platform. This can boost Indian economy to its best in the very coming phases.
Paperless payments tools such as cards, Netbanking and mobile wallets are on the rise, and have finally outperformed their paper-based counterparts such as cheques in terms of the total value of transactions processed during the 2015 fiscal. These developments are indicative of a healthy, thriving digital economy of India.