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From 1850 to 1947, India's GDP per-capita had grown by 16%, from $533 to $618 in 1990 international dollars. According to historical GDP estimates by economist Angus Maddison, India's GDP grew in absolute terms but declined in relative share to the world. [11]
The economy of India accelerated and has grown at a rate of around 3–9% since economic liberalisation began in the 1990s with the exception of 2020. [ 5 ] [ 6 ] Recent research has shown that India's growth rate had begun to attain higher growth since Indira Gandhi's time in 1980s due to economic reforms, with average growth rate of 5.8% in ...
From 1850 to 1947, India's GDP in 1990 international dollar terms grew from $125.7 billion to $213.7 billion, a 70% increase, or an average annual growth rate of 0.55%. This was a higher rate of growth than during the Mughal era (1600–1700), when it had grown by 22%, an annual growth rate of 0.20%, or the longer period of mostly Maratha ...
The economic history of the India since 1947 can be divided into two epochs: 1.1947-91 which saw heavy government involvement in the economy, and a slow growth rate in GDP 2.1991–present which saw deregulation and a rapid growth in GDP, and reduction in poverty.
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 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 in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
Pages in category "Economic history of India (1947–present)" The following 36 pages are in this category, out of 36 total. This list may not reflect recent changes. C.
The Indian government also raised its GDP growth outlook for fiscal year 2023-24 to 7.6% from 7.3% forecast earlier. Subramanian said that growth in India’s economy was driven by a shift in the ...
The empire's largest economy in 1870 was British India with a 12.15% share of world GDP, followed by the United Kingdom with a 9.03% share. The empire's largest economy in 1913 was the United Kingdom with an 8.22% share of world GDP, followed by British India with a 7.47% share. [20]