Economy Overview: India’s economy includes traditional subsistence farming, modern agriculture, handicrafts, various modern industries and a diverse service sector. More than a third of the population is too poor to afford adequate nutrition. In 2000, India’s external payments situation remained strong due to the accumulation of sufficient foreign exchange reserves, a relatively stable exchange rate, and a sharp increase in software exports. The growth of industrial production is slowing down, in many regions there is a shortage of electricity. See cheeroutdoor.com to know more about India Business.
GDP: at purchasing power parity – $ 2.2 trillion (2000 est.).
Real GDP growth rate: 6% (2000 est.).
GDP per capita: at purchasing power parity – $2,200 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 25%; industry: 24%; service sector: 51% (2000).
Proportion of population below the poverty line: 35% (1994 est.).
Percentage distribution of household income or consumption: per 10% of the poorest families: 3.5%; by the top 10% of families: 33.5% (1997).
Inflation rate at consumer prices: 5.4% (2000 est.).
Labor force: no data.
Employment structure: agriculture 67%, services 18%, industry 15% (1995 est.).
Unemployment rate: no data.
Budget: revenues: $44.3 billion; spending: $73.6 billion including capex – NA (FY00-01 est.).
Spheres of economy: production of textiles, chemicals, food industry, steel industry, production of transport equipment, cement, mining, oil production, production of machines, software production.
Growth in industrial production: 7.5% (2000 est.).
Electricity generation: 454.561 billion kWh (1999)
Sources of electricity generation: fossil fuels: 79.41%; hydropower: 17.77%; nuclear fuel: 2.52%; others: 0.3% (1999).
Electricity consumption: 424.032 billion kWh (1999)
Electricity export: 200 million kWh (1999).
Electricity import: 1.49 billion kWh (1999)
Agricultural products: rice, wheat, oilseeds, cotton, jute, tea, sugarcane, potatoes; cattle, buffaloes, sheep, goats, poultry; fish.
Export: $43.1 billion (free on board, 2000)
Exports: textiles, gems and jewellery, technology goods, chemicals, leather goods.
Export partners: USA 22%, UK 6%, Germany 5%, Hong Kong 5%, Japan 5%, UAE 4% (1999).
Imports: $60.8 billion (free on board, 2000)
Imports: crude oil and petroleum products, machinery, gems, fertilizers, chemicals.
Import partners: US 9%, Benelux 8%, UK 6%, Saudi Arabia 6%, Japan 6%, Germany 5% (1999).
External debt: $99.6 billion (2000) Economic aid recipient: $2.9 billion (FY98-99)
Economic aid donor:
Currency: Indian rupee.
Currency code: INR.
Exchange rate: INR/USD – 46.540 (January 2001), 44.942 (2000), 43.055 (1999), 41.259 (1998), 36.313 (1997), 35.433 (1996).
Fiscal year: April 1-March 31.
Telecommunications Telephone lines: 27.7 million (October 2000).
Mobile cell phones: 2.93 million (November 2000)
Phone system: average quality service; local and international communications are provided throughout the country, the lines are concentrated mainly in urban areas; the main objective of the development of the telephone system is to continue the expansion and modernization of long-distance lines in order to keep pace with the rapid development of local networks; there is a gradual improvement in the quality of communication due to the recent admission of private and public-private investors into the industry, but the provision of telephones is still only 2 for every 100 people, and there are 2 million unsatisfied applications, the demand for installation of telephones will not be fully satisfied for a long time; internal: local communication is provided by microwave radio relay and coaxial cables, as well as landlines and outdated electromechanical and manual switches, which are still used in the countryside; in the 1980s began equipping local and international communication lines with digital switching equipment; long-distance traffic is carried out in most cases using coaxial cables and low bandwidth microwave radio relay; since 1985, the capacity of the trunk network has been significantly expanded due to the laying of fiber optic cable and the commissioning of a national satellite system with 254 satellite earth stations; cellular networks are deployed in four metropolitan areas; international: satellite earth stations – 8 Intelsat (Indian Ocean) and 1 Inmarsat (Indian Ocean region); nine central exchanges operate in Mumbai (Bombay), New Delhi, Kolkata (Calcutta), Chennai (Madras), Jalandhar, Kanpur, Gaydhinagara, Hyderabad and Ernakulam; 4 LOCOM submarine cables link Chennai (Madras) with Penang Island; the India-UAE-Persian Gulf cable connects Mumbai (Bombay) with Al-Fujairah (UAE); India-BEA-MELL / E-Z, SEA-ME-WE-2 – with bases in Cochin and Mumbai (Bombay); FLAG (fiber optic link around the earth) based in Mumbai (Bombay) (2000).
Broadcast stations: AM – 153, FM – 91, shortwave – 68 (1998).
Radio receivers: 116 million (1997)
Television broadcast stations: 562 (82 of which are 1 kW or higher and 480 are less than 1 kW) (1997).
Televisions: 63 million (1997).
Internet country code: in
Internet service providers: 43 (2000).
Number of users: 4.5 million (2000).
Transport Railways: total: 62,915 km (12,307 km electrified; 12,617 km double track); broad gauge: 40,620 km (1.676 m gauge); narrow gauge: 18,501 km (1,000 m gauge); 3,794 km (0.762 m and 0.610 m gauge) (1998 est.).
Roads: total: 3,319,644 km; coated: 1,517,077 km; unpaved: 1,802,567 km (1996 est.)
Waterways: 16,180 km; 3,631 km are navigable for large boats.
Pipelines: for crude oil -3,005 km; for oil products – 2,687 km; for natural gas -1,700 km (1995).
Ports and harbours: Visakhapatnam, Jawaharlal Nehru, Calcutta, Kandla, Cochin, Mumbai (Bombay), Shennai (Madras).
Merchant navy: in total: 315 vessels (of 1,000 tons displacement or more) with a total displacement of 6,433,831 gross register tons / 10,691,973 long tons of gross tonnage; ships of various types: dry cargo ships – 117, cargo ships – 70, chemical tankers – 15, combined dry cargo ships – 1, combined ore and oil carriers – 3, container ships – 15, liquefied gas tankers – 9, cargo-passenger ships – 5, oil tankers 76, coastal passenger ships 2, specialized tankers 2 (2000 est.).
Airports: 337 (1999 est.).
Airports with paved runways: total: 235; over 3,047 m: 13; from 2438 to 3047 m: 48; from 1,524 to 2,437 m: 81; from 914 to 1523 m:11; less than 914 m: 16 (2000 est.).
Airports with unpaved runways: total: 102; from 2438 to 3047 m:1; from 1524 to 2437 m:6; from 914 to 1523 m:40; less than 914 m: 55 (2000 est.). Helipads: 16 (2000 est.).
Branches of the armed forces: ground forces, navy (including naval aviation), air force, various security and paramilitary formations (including border troops, units of Assam riflemen and Rashtriya riflemen, national security guards).
Enlistment age: 17 years old.
Total Military Manpower: Male 15 to 49: 280,204,502 (2001 est.). Eligible for military service: males aged 15 to 49: 164,410,461 (2001 est.).
Eligible for military service:
Number of persons reaching military age each year: male: 10,879,384 (2001 est.).
Military spending in dollar terms: $13.02 billion (2001)
Military spending as part of GDP: 2.5% (2001).
International issues International disputes: border dispute with China; dispute over the status of Kashmir with Pakistan; disputes with Pakistan over the watershed of the Indus River (Wular Dam); part of the border with Bangladesh is not defined; exchange of 151 enclaves along the border with Bangladesh awaits ratification by the Indian Parliament; dispute with Bangladesh over New Moor Island (South Talpatty).
Illicit drugs: world’s largest legal producer of opium for pharmaceutical purposes, but an undetermined amount of opium finds its way into international illicit drug markets; transit country for illicit drugs produced in neighboring countries; illegal production of hashish and methaqualone.