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India also increasingly integrated its economy with the global economy. The ratio of total exports of goods and services to GDP in India approximately doubled from 7.3 percent in 1990 to 14 percent in 2000. [48] This rise was less dramatic on the import side but was significant, from 9.9 percent in 1990 to 16.6 percent in 2000.
The economy of the state of Maharashtra is the largest in India. [12] Maharashtra is India's second most industrialised state contributing 20% of national industrial output. Almost 46% of the GSDP is contributed by industr
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 ...
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
There were also structural problems in the Indian economy that contributed to the crisis, including low savings and investment rates, and inadequate export growth. The foreign exchange reserves by 1991 had dried up to the point that India could barely finance three weeks worth of imports. [20]
"The limited size of the domestic market in a low income country can thus constitute an obstacle to the application of capital by any individual firm or industry working for the market. In this sense the small domestic market is an obstacle to development generally." [3] The process of economic development as per Ragnar Nurkse's balanced growth ...
Foreign direct investment (FDI) in India has reached 2% of GDP, compared with 0.1% in 1990, and Indian investment in other countries rose sharply in 2006. [18]As the third-largest economy in the world in PPP terms, India is a preferred destination for FDI; [19] India has strengths in information technology and other significant areas such as auto components, chemicals, apparels ...
While the Indian economy grew at 6 percent per annum over the period of 1981 to 2000, the same of Assam's grew only by 3.3 percent. [8] In the Sixth Plan period Assam experienced a negative growth rate of 3.78 percent against a growth rate of 6 percent of India's. [ 7 ]