India

https://www.cia.gov/library/publications/the-world-factbook/geos/in.html

http://www.mapsofindia.com/maps/india/india-flag.jpg

Economic Development since 1947

Basic Information

• Population: 1,147,995,904• Median Age: 25.1 years• Population Growth Rate: 1.578%• 15 official languages• Religions: Hindu, Muslim, Christian, Sikh• Literacy: – Males: 73.4%– Females: 47.8%

Basic Information

• Capital: New Delhi• GDP (PPP): $2.966 trillion• GDP Real Growth Rate: 9%• GDP Per Capita: $2,600• Unemployment Rate: 7.2%• Population Below Poverty Line: 25%• Inflation Rate: 6.4%

GDP (PPP) – last 100 years

19081911

19141917

19201923

19261929

19321935

19381941

19441947

19501953

19561959

19621965

19681971

19741977

19801983

19861989

19921995

19982001

20040

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

GDP (PPP)

Source: www.imf.org

GDP (PPP)

19801981

19821983

19841985

19861987

19881989

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

0

500

1000

1500

2000

2500

3000

3500

4000

4500

India GDP (PPP) in Billions

Source: www.imf.org

GDP Growth (%)

19801981

19821983

19841985

19861987

19881989

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

0

1

2

3

4

5

6

7

8

9

GDP Growth

Source: www.imf.org

Inflation Rate

19801981

19821983

19841985

19861987

19881989

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

0

2

4

6

8

10

12

14

16

Inflation

Source: www.imf.org

Basic Information

• Index of Economic Freedom: 54.2 (115)

• Major Industries:– textiles, chemicals, food processing, steel,

transportation equipment, cement, mining, petroleum, machinery, and software

Basic Information

• Export Partners: US 15%, China 8.8%, UAE 8.7%, UK 4.4%

• Import Partners: China 10.7%, US 7.8%, Germany 4.5%, Singapore 4.4%

• Currency: Rupee• Communications– Main line phones: 38.76 Million– Mobile Cellular: 296.08 Million

Culture

• Birthplace of several Religious systems• Musical Culture• Food• Indian Film Industry• Philosophy

Political History

• British Rule ended in 1947– British India split into Pakistan and India

• Jawaharlal Nehru• Indira Gandhi• Rajiv Gandhi• Narasimha Rao• Coalition Politics

Economic History

• At time of Independence– 5% of US GDP – One sixth of population

urban

http://globalis.gvu.unu.edu/indicator_detail.cfm?Country=IN&IndicatorID=30#row

Economic History

• Nehru’s policies– 5 year plans– Intended to encourage growth of manufacturing

and heavy industries– License Raj

• Trade and Budget Deficits• Hindu Rate of Growth

Economic History

• 1975 – One fifth of population urban• Back-to-back assassinations weakened

confidence of international investors• As of 1991, India had a fixed exchange rate

system– Foreign Exchange Crisis

• Narasimha Rao - liberalization

Current Account Balance (In Billions)

19801981

19821983

19841985

19861987

19881989

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

-35

-30

-25

-20

-15

-10

-5

0

5

10

15

Current Account Balance

Source: www.imf.org

Inflation and GDP

19801981

19821983

19841985

19861987

19881989

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

0

2

4

6

8

10

12

14

16

Inflation RateGDP Growth Rate

Source: www.imf.org

http://www.rbi.org.in/Scripts/PublicationsView.aspx?id=8540#2

Economic History

• 2000 – 4% of US GDP• National Democratic Alliance (NDA)– Telecommunications– Infrastructure• Golden Quadrilateral road network

Recent Achievements

• Maintained electoral democracy• Reduced absolute poverty by more than half• Improved literacy and health conditions• One of the fastest growing economies• Emerged as major player in information

technology, business process outsourcing, telecommunications, and pharmaceuticals

Challenges

• Improving Core Public Services– Education– Health– Infrastructure

Challenges

• More Inclusive Growth– Agriculture– Jobs– Lagging States

Challenges

• Sustaining Growth– Fiscal Deficit– Trade Deficit– Ongoing Reform