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Economic Analysis of India - Case Study Example

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"Economic Analysis of India" paper states that India’s fast-growing economy presents a myriad of opportunities for both local and foreign investors. With its relatively good communication and transport network, it is notable that the cost of both transport and communication is significantly low…
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Download file to see previous pages The country’s economy is fast growing with a stable political system that encourages foreign investment although with certain restrictions. The country generally has good energy, transport and communication systems which make the cost of doing business affordably.

The Republic of India found South of Asia is by far the world’s most populous democracy and ranks seventh largest in terms of geographical area (Brown, 1994). India is also the second most highly populated country in the world. The country has a rich culture with four major religions having originally emerged from it; Sikhism, Buddhism, Hinduism, and Jainism. The Indian Republic consists of seven union territories and 28 states and ranks twelfth largest in the world economy by exchange rates, fifth by purchasing power. From 1991, the country has adopted a market based economic system to its favor; encouraging foreign trade and investment (Ramchandra, 2007). India produces several agricultural products which include jute, sheep, goats, sugarcane, potatoes; oilseed, cotton, tea, rice, water buffalo, poultry; fish, cattle, and wheat.

India has a diverse economy that thrives on handicrafts, modern and traditional agriculture, numerous modern service and production industries (United Nations, 2009). The Indian economy largely depends on the service industry which accounts for close to 50% of the country’s output. The country’s GDP (Gross Domestic Product) by purchasing power parity in 2008 was estimated at 3.297 trillion U.S. dollars and 3.069 trillion in 2007 (United Nations, 2009).

By the official exchange rate, the country’s GDP in 2008 stood at 1.21 trillion U.S. dollars. The country’s real GDP growth rate in 2006, 2007 and 2008 stood at 9.7%, 9.0%, and 7.4% respectively. Compared with other countries in the world, the nation is position 28 in terms of GDP growth rate.

Globally, the Republic of India ranks 166 in terms of per capita income with an estimated 2,500, 2,700 and 2,900 U.S. dollars in 2006, 2007 and 2008 respectively. ...Download file to see next pagesRead More
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