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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 ...
It also has one of the world's fastest growing e-commerce markets. [323] The e-commerce retail market in India was valued at $32.7 billion in 2018, and is expected to reach $71.9 billion by 2022. [324] India's retail industry mostly consists of local mom-and-pop stores, owner-staffed shops and street vendors.
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 [update] , the Government accounted for about 21% of the GDP followed by agriculture with 21% and corporate sector at 12%.
The fastest-growing industry in 2021 was leisure and hospitality, according to the U.S. Bureau of Labor Statistics, but from... These 20 Industries Are Expected To Have the Largest Decline by 2031 ...
India is the member of G-20 major economies and BRICS from the region. It is the fastest-growing major economy in the world and one of the world's fastest registering a growth of 7.2% in FY 2022-23. [29] India is followed by Bangladesh, which has a GDP of ($446 billion). a.
India also topped the World Bank's growth outlook for 2015–16 for the first time with the economy having grown 7.3% in 2014–15 and expected to grow 7.5–8.3% in 2015–16. [86] India has the one of fastest growing service sectors in the world with annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012–13. [87]
India experienced deindustrialisation and cessation of various craft industries under British rule, [12] which along with fast economic and population growth in the Western world, resulted in India's share of the world economy declining from 24.4% in 1700 to 4.2% in 1950, [13] and its share of global industrial output declining from 25% in 1750 ...
Bhubaneswar was ranked as the best place to do business in India by the World Bank in 2014. [20] Bhubaneswar has emerged as one of the fast-growing, important trading and commercial hub in the state and eastern India. [21] Tourism is a major industry, attracting about 1.5 million tourists in 2011.