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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 141th by GDP (nominal) and 125th by GDP (PPP). [58]
The Ministry of Finance has proposed a 71% increase in funding to ₹13,104.50 crore for the manufacturing of chips and electronics in the 2024 Union budget of India. [104] In 2024, the Government of India has approved the establishment of four semiconductor manufacturing units in the country as part of the Semicon India Programme. Additionally ...
Solar Power Plant Telangana II in state of Telangana, India. India renewable electricity production by source. India is the world's 3rd largest consumer of electricity and the world's 3rd largest renewable energy producer with 46.3% of energy capacity installed as of October 2024 (203.18 GW of 452.69 GW) coming from renewable sources.
The solar energy sector in India offers potentially enormous capacity, though little of this potential has so far been exploited. Solar radiation of about 5,000 trillion kWh per year is incident over India's land mass, with average daily solar power potential of 0.25 kWh/m 2 of used land area with available commercially proven technologies. [173]
The production capacity is expected to be 25 GW for solar cells and 60 GW for solar modules by the end of 2025. India has similar advantages in total solar panels manufacturing process by importing solar ingots grade silica from USA similar to China as the industrial wages and electricity costs are cheaper than in China. [289]
India was a net energy importer to meet nearly 47% of its total primary energy in 2019. [3] [4] While much of its energy comes from fossil fuels, as of 2024, India is in the midst of a very rapid growth of solar and other renewable energy. However, this page currently only discusses the country's fossil fuel–based energy.
The percentage of the GDP produced by the manufacturing sector was 25% in 2018–19. The growth rate of the manufacturing sector was 5.8% in 2018–19, compared to 6.0% for the state's economy as a whole. [1] A prominent feature of Punjab's industrial landscape are its small sized industrial units.
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...