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Indian Economic Statistics

August 10, 2009

The Indian Economy Statistics has shown that the economy has experienced a strong growth in the second quarter of the year 2006-07. The Gross Domestic Product in the country increased at an impressive rate of 9.4 percent per annual. The GDP Growth was mainly by the fast growing industrial production as well as the growth in the services sector.

The economy has been growing at around 9 per cent in the past two years recording a growth rate of 9 per cent and 9.4 per cent in 2005-06 and 2006-07 respectively. For example, industrial and services sectors have logged in a 10.9 and 11 per cent growth rate in 2006-07 respectively, against 9.6 per and 9.8 cent in 2005-06. Similarly, manufacturing grew by 9.1 per cent and 12.3 per cent in 2005-06 and 2006-07 and trade, hotel, transport and communication recorded a growth of 10.4 per cent and 13 per cent, respectively.
The GDP rate of India in the years 2005-2007 over various quarters is shown in the following statistics diagram

Per Capita Income
With major acceleration in the growth rate of the Indian economy, India’s per capita income has increased at a fast rate, exceeding an earlier forecast made by the Goldman Sachs BRIC report which estimated India’s per capita to touch US$ 800 by 2010 and US$ 1149 by 2015.
Per capita income has increased from US$ 460 in 2000-01 to almost double to US$ 797 by the end of 2006-07. Further, India’s per capita income is estimated to be over US$ 1000 in 2007-08, and is expected to increase to US$ 2000 by 2016-17 and US$ 4000 by 2025. This growth rate will, consequently, propel India into the middle-income category.
India in the International Scenario
India¬タ ルs international participation has increased at a faster rate recently. The products exports of the country have experienced a strong growth. Growth in the exports of services is good. Foreign Exchange Reserves in the country also increased at a faster rate in the country. USA, UAE and OPEC (Organization of Petroleum Exporting Countries) countries remained as the top destinations for the exports.
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