Portal:Economy

The economy of India is the fourth largest in the world as measured by purchasing power parity. When measured in USD exchange-rate terms, it is the tenth largest in the world, with a GDP of US $1.0 trillion. India is the second fastest growing major economy in the world, with a GDP growth rate of 9.2% at the end of the second quarter of 2006–2007. However, India's huge population results in a per capita income of $3700 at PPP and $820 at nominal. The World Bank classifies India as a low-income economy.

The economy is diverse and encompasses agriculture, handicrafts, textile, manufacturing, and a multitude of services. Although two-thirds of the Indian workforce still earn their livelihood directly or indirectly through agriculture, services are a growing sector and are playing an increasingly important role of India's economy. The advent of the digital age, and the large number of young and educated populace fluent in English, is gradually transforming India as an important 'back office' destination for global companies for the outsourcing of their customer services and technical support. India is a major exporter of highly-skilled workers in software and financial services, and software engineering.