India Nature & Economy

India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. Slightly more than half of the work force is in agriculture, leading the United Progressive Alliance (UPA) government to articulate a rural economic development program that includes creating basic infrastructure to improve the lives of the rural poor and boost economic performance. The government has reduced controls on foreign trade and investment. Higher limits on foreign direct investment were permitted in a few key sectors, such as telecommunications. However, tariff spikes in sensitive categories, including agriculture, and incremental progress on economic reforms still hinder foreign access to India's vast and growing market. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. India achieved 8.5% GDP growth in
2006, 9.0% in 2007, and 7.3% in 2008, significantly expanding manufactures through late 2008. India also is capitalizing on its large numbers of well-educated people skilled in the English language to become a major exporter of software services and software workers.
 
 
Location: Southern Asia, bordering the Arabian Sea and the Bay of Bengal, between Burma and Pakistan
 
Population: 1,273,910,000 (2015 est.)
 
Land Area: 2,980,000 km2
 
Capital: New Delhi
 
Main cities: Bombay, Calcutta, Bangalore, Madras, Ahmedabad, Hyderabad, Kanpur
 
Languages: Hindi, English, Bengali, Kashmiri, Tamil, Telugu
 
GDP: $1.877 trillion (2013 est.)
 
Monetary unit: Rupee
 
Exports: $112 billion f.o.b. (2006 est.)
 
Exports ?� commodities: textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures
 
Exports ?� partners: US 17.4%, UAE 8.5%, China 7.9%, UK 4.4% (2006)
 
Imports: $187.9 billion f.o.b. (2006 est.)
 
Imports ?� commodities: crude oil, machinery, gems, fertilizer, chemicals
 
Imports ?� partners: China 8.5%, US 5.9%, Germany 4.5%, Singapore 4.5% (2006)
 
Land use:
arable land: 48.83%
 
permanent crops: 2.8%
 
other: 48.37% (2005)
 
Natural resources: coal (fourth-largest reserves in the world), iron ore, manganese, mica, bauxite, titanium ore, chromite, natural gas, diamonds, petroleum, limestone, arable land



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