What is India's GDP?
Q: What is India's GDP?
A: India's GDP (gross domestic product) is $3.94 trillion U.S. dollars, making it the sixth largest economy in the world. When considering purchasing power parity (PPP), India has the third largest economy worth $12.51 trillion U.S..
Q: What are the main sources of economic growth in India?
A: The service sector is currently the main source of economic growth in India, although two-thirds of Indian people earn their living directly or indirectly through agriculture.
Q: How did India become a pioneer in information technology?
A: Due to its many well-educated people who can speak English, India became a pioneer in information technology.
Q: When did India start reducing government control on foreign trade and investment?
A: In the early 1990s, under the leadership of P. V Narasimha Rao and Manmohan Singh, India started reducing government control on foreign trade and investment which led to an increase in economic growth rate for the country.
Q: What are some social and economic problems facing India today?
A: Some social and economic problems facing India today include increasing population, poverty, lack of infrastructure (buildings, roads etc.) and growing unemployment rates.
Q: Who was responsible for starting reforms that would reduce government control on foreign trade and investment?
A: Manmohan Singh was responsible for starting reforms that would reduce government control on foreign trade and investment under the leadership of P V Narasimha Rao in the early 1990s
