India GDP

The India GDP is a combination of all the differential factors, contributing to the welfare of the India economy. India GDP gives us a combined report of the performance of the Indian economy. 'Cost factor' or 'Actual price' method - these are the two methods to calculate Indian Gross Domestic Product. The main factor that contributed to the growth of India GDP post 1990s was the opening-up of the Indian economy. The balance-of-payments crisis of the 1980s of the Indian economy led to the paradigm shift of the Indian Economy. The markets were opened up; the Government leveraged the entry of private investments. As a result of this, more investments flowed into the markets. More so by the foreign direct investments (FDIs) and foreign institutional investors (FIIs), the India GDP growth saw a phenomenal increase. Bulk of the Government undertakings were divested into lots of private business houses.

Gauging the health of the India economy - India GDP is the best tool! Going by figures, India GDP has already crossed the trillion-dollar mark, other peers in this sphere being US, Japan, Germany, China, UK, France, Italy, Spain, Canada, Brazil and Russia. After the liberalization era of the India economy, the growth story of the India GDP was driven by the following sectors of Indian industry -

Information Technology Information Technology Enabled Services Telecommunications Electronics and hardware Automobiles Pharmaceuticals and biotechnology Consumer durables Retail Textiles Infrastructure Construction Airlines Hospitality Power Oil and natural gas Fertilizers and chemical

Factors governing the Indian Economy

GDP (purchasing power parity) $4.046 trillion (2010) GDP - per capita (PPP) $3,400 (2010) GDP (official exchange rate) $1.43 trillion (2010) GDP - composition by sector Services: 55.3% (2010 est.) Industry: 28.6% Agriculture: 16.1% India Budget Revenues: $170.7 billion Expenditures: $257.4 billion (2010) Unemployment rate 10.8% (2010) Labor force: 478.3 million (2010) Labor force divided by occupation Agriculture: 52 percent Industry: percent Services: 34 percent (2009)

Population below poverty line 25 percent (2007) Household income in India or consumption by percentage share Highest 10 percent: 31.1 percent (2005) Lowest 10 percent: 3.6 percent

Distribution of family income - Gini index 36.8 (2004) Inflation rate (consumer prices) 11.7 percent (2010.) Public 55.9 percent of GDP (2010.) debt

Central 6 percent (31 December 2009)

bank

discount

rate

Commercial

bank

prime

lending

rate

12.19 percent (31 December 2009)

Reserves

of

foreign

exchange

and

gold

in

India

$284.1 billion (31 December 2010)

Agriculture poultry, goats and fish India

products

in

India

Rice, wheat, lentils, cotton, jute, tea, oilseed, jute, sugarcane, onions, potatoes; sheep, dairy products,

Industries

Textiles, petroleum, food processing, software, chemicals, steel, transportation equipment, cement, mining, machinery and pharmaceuticals

Import Singapore 4.02% (2009)

partners

of

India

US 7.16%, Saudi Arabia 5.36%, China 10.94%, Australia 5.02%, Germany 4.86%, UAE 5.18% and

Industrial 9.7 percent (2010)

production

growth

rate

in

India

Electricity 723.8 billion kWh (2009)

production

in

India

Electricity 568 billion kWh (2007)

consumption

in

India

Electricity 5.27 billion kWh (2009)

imports

in

India

Electricity 810 million kWh (2009)

exports

in

India

Oil 878,700 bbl/day (2009)

production

in

India

Oil 2.9 million bbl/day (2007)

imports

in

India

Oil 738,600 bbl/day (2007)

exports

in

India

Natural 38.65 billion cu m (2009)

gas

production

in

India

Natural 51.27 billion cu m (2009

gas

consumption

in

India

Import

commodities

in

India

Crude oil, fertilizer, machinery, precious stones, steel, iron and chemicals

Year wise comparison of India's GDP

Below is a table that shows the year wise comparison of India's GDP from the year 2003 to 2011

Year 2003 2004 2005 2006 2007 2008 2009 2010 2011

GDP Real Growth Rate 4.30 percent 8.30 percent 6.20 percent 8.40 percent 9.20 percent 9.00 percent 7.40 percent 7.40 percent 8.30 percent

Graph on GDP of India from 2003 to 2011

Below is a table that shows the year wise comparison of India's Constant Price GDP from the year 2003 to 2011

Year 2003 2004 2005 2006 2007 2008 2009 2010

GDP Constant Price 6.852 8.106 9.167 9.658 9.886 6.396 5.678 9.668

Graph on Constant GDP of India from 2003 to 2011

Interesting Facts about Outsourcing in India

Indian outsourcers will earn $220-280 billion by 2012 Outsourcing consists of 7 percent of India's GDP The outsourcing companies in India will earn $10.73 billion by 2011 Outsourcing witnessed a striking growth of 8.1 percent in 2008 Salaries of the Indian software industry went up 18.7 percent in 2006 Human Resource services went up by 8 percent in India in 2006 Small scale business enterprises that outsource IT services in India end up spending about 5 percent on maintenance and up gradations Human Resource outsourcing increased by almost $18.9 billion in 2010 IT offshore expenses in India reached $29.4 billion in 2010 Outsourcing of Mobile network grew to $55.3 billion in 2010 The back office and software industry in Indian generated $23.6 billion in the year fiscal 2005-2006 The total revenue generated by the Outsourcing industry in India is $23.4 billion The Business process outsourcing market went up 33 percent in 2005 29,000 jobs were available in India in 2008 The outsourcing industry in India employs about 1.2 million people and contributes $23.4 billion to the Gross Domestic Product 38% of multinational companies plan to change the distribution of their research and development centers within the next 3 years The Desktop management outsourcing in India reached $28 billion in 2005 Export of services and software from India reached $17.2 billion in the fiscal year 2005 The test outsourcing and Packaging industry in India reached $15.5 billion in 2005 The number of outsourcing contracts went down by 10-15 percent in 2005 The Indian outsourcing industry brought in $12 billion in 2004