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Home >>India Economy
India Economy
The India Economy scenario has immensely improved over the last few decades. The Economic condition of India has been progressing at a massive pace. The economy of India is the fourth largest in the world when measured by purchasing power parity (PPP), but when it is measured in USD exchange-rate terms, it is the tenth largest in the world, with a GDP of US $1.0 trillion (2007). At the moment India is the second fastest growing major economy in the world, with a GDP growth rate of 9.2% as estimated at the end of the second quarter of 2006–2007.
The India Economy scenario continues to move forward with a diverse variety of market-oriented economic reforms. Recently many policies have been reformed and some created in order to help the progress of the India Economy scene. These include the liberation of foreign investment and exchange regimes, significant reductions in tariffs and other trade barriers, industrial decontrol, reform and modernization of the financial sector, significant adjustments in government monetary and fiscal policies and safeguarding intellectual property rights.
According to a recent report, it was stated that as India's growth rate is accelerating at a good pace the Indian Economy could overhaul Britain and have the world's fifth largest economy within a decade. The BPO industry has played a major role in increasing revenue for India Economy. The Indian economic condition has vastly improved after the advent of the outsourcing concept in India. The BPO industry has opened up new avenues in the job arena, specially for the youth. They have increased the job opportunities by a huge percent. All these add up to a bright future for the Indian Economy.
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