The Economic of India is the seventh-largest economic situation on the planet determined by nominal GDP and the third-largest by acquiring power parity (PPP). The country is identified as a freshly industrialised nation, one of the G-20 major economies, a member of BRICS and also a developing economic situation with an ordinary growth rate of approximately 7% over the last twenty years. Maharashtra is the most affluent Indian state as well as has an annual nominal GDP of US$ 250 billion, virtually equal to that of Portugal and Pakistan and represent 12% of the Indian GDP followed by the states of Tamil Nadu (US$ 150 billion) and also Uttar Pradesh (US$ 130 billion). India’s economy ended up being the globe’s fastest growing significant economy in the last quarter of 2014, changing the People’s Republic of China. Click here for Quiz on Indian Economy Nature and Characteristics
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