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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). [62]
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
Real GDP growth on an annual basis is the nominal GDP growth rate adjusted for inflation. It is usually expressed as a percentage. "GDP" may refer to "nominal" or "current" or "historical" GDP, to distinguish it from real GDP. Real GDP is sometimes called "constant" GDP because it is expressed in terms of constant prices.
India is “easily” the fastest-growing economy in the world, the IMF’s executive director said, as the country’s third-quarter GDP growth blew past estimates.
GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). [1] As of 2011, the Government accounted for about 21% of the GDP followed by agriculture with 21% and corporate sector at 12%.
Countries by real GDP growth rate in 2024 (IMF WEO database 2024) This article includes lists of countries and dependent territories sorted by their real gross domestic product growth rate; the rate of growth of the total value of all final goods and services produced within a state in a given year compared with the previous year.
The top 3 largest economies in Asia are China, Japan and India. China is the largest economy in Asia, comprising nearly half of the continent's gross domestic product. China (48.61%)
Goa had the highest per capita PPP GDP at US$14,903, while Bihar the lowest with per capita PPP GDP of US$682 as of 2015 [12] In rupee terms, India's per capita income grew by 10.4% to reach Rs.74,920 in 2013–14. While India's per capita incomes were low, the average household size and consequent household incomes were higher.