ECONOMY IN INDIA

India is the 18th largest export economy in the world and the 50th most complex economy according to the Economic Complexity Index (ECI).

With 1.2 billion people and the world’s fourth-largest economy, India’s recent growth and development has been one of the most significant achievements of our times. Next, over the six and half decades since independence, the country has brought about a landmark agricultural revolution that has transformed the nation from chronic dependence on grain imports into a global agricultural powerhouse that is now a net exporter of food and now, India  ranks 39th among the world’s most competitive economies, up 16 places from last year. It is the biggest leap for any country in the World Economic Forum’s Global Competitiveness Report 2016-2017.

INDIA’S EXPORT

Exports from India amounted to US$264 billion in 2015, down -12.4% since 2011 and down -16.9% from 2014 to 2015. India’s top 10 exports accounted for 58.1% of the overall value of its global shipments. From spices to textiles, manufacturing industries and more.

Here are India’s top 10 export. That is Gems, precious metals that worth US$38.8 billion (14.7% of total exports), Oil: $30.9 billion (11.7%), Vehicles: $14.1 billion (5.3%), Machines, engines, pumps: $13.2 billion (5%), Pharmaceuticals: $12.5 billion (4.7%), Organic chemicals: $11.2 billion (4.3%), Clothing (not knit or crochet): $9.4 billion (3.5%), Electronic equipment: $7.9 billion (3%), Knit or crochet clothing: $7.8 billion (2.9%), and Cotton: $7.5 billion (2.8%).

WRITTEN BY : SUPAHASTRA