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The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [ 5 ] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 136th by GDP (nominal) and 125th by GDP (PPP). [ 60 ]
The following list gives the latest available gross state domestic product (GSDP) figures for all Indian States and Union Territories at current prices in millions or trillions of Indian rupees. No data is available for the union territories of Dadra and Nagar Haveli and Daman and Diu, Ladakh and Lakshadweep.
Economic development in India. The economic development in India followed socialist -inspired politicians for most of its independent history, including state-ownership of many sectors; India's per capita income increased at only around 1% annualised rate in the three decades after its independence. [1] Since the mid-1980s, India has slowly ...
[8] [1] [11] Among others, India has also experienced an economic boom since the implementation of economic liberalisation in the early 1990s. [ 12 ] The first list includes estimates compiled by the International Monetary Fund 's World Economic Outlook, the second list shows the World Bank 's data, and the third list includes data compiled by ...
NSDP per capita of Indian states and union territories, 2018–19. This is a list of Indian states and union territories by NSDP per capita.Net state domestic product (NSDP) is the state counterpart to a country's Net domestic product (NDP), which equals the gross domestic product (GDP) minus depreciation on capital goods.
The economic impact of the COVID-19 pandemic in India has been largely disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy.
The gross domestic product of India in 1500 was estimated at 24.4% of the world's economy, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence and would only gradually rise after the liberalization of its economy beginning in the 1990s.
However, by the end of British rule, India's economy represented a much smaller proportion of global GDP. In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. India's per-capita income remained mostly stagnant during the Raj, with most of its GDP growth coming from an expanding population.