The economy of India, measured in USD exchange-rate terms, is the twelfth largest in the world, with a GDP in excess of $1 trillion (2008). It recorded a GDP growth rate of 9.0% for the fiscal year 2007–2008 which makes it the second fastest big emerging economy, after China, in the world. At this rate of sustained growth many economists forecast that India would, over the coming decades, have a more pronounced economic effect on the world stage. Despite this phenomenal rate of growth, India’s large population has a per capita income of $4,542, measured by PPP, and $1,089, measured in nominal terms (revised 2007 estimate). The World Bank classifies India as a low-income economy.
|GDP (PPP)||$5.21 trillion (PPP) (2008 est.)|
|GDP growth||9.6% (2006/07)|
|GDP per capita||$1,089 (nominal); $4,543 (PPP)|
|GDP by sector||agriculture: 19.9%, industry: 19.3%, services: 60.7% (2006 est.)|