India India (Hindi: Bhārat), officially the Republic of India

Economy[change | change source]

Main article: Economy of India

The economy of the country is among the world's fastest growing. It is the 7th largest in the world with a nominal GDP of $2,250 billion (USD), and in terms of PPP, the economy is 3rd largest (worth $8.720 trillion USD).^[49] The growth rate is 8.25% for fiscal 2010. However, that is still $3678 (considering PPP) per person per year. India's economy is based mainly on:

• 
  Service sector: 43%
  
• 
  Industries: 41%
  
• 
  Information technology: 7%
  
• 
  Farming: 7%
  
• 
  Outsourcing: 2%.
  

India's economy is diverse. Major industries include automobiles, cement, chemicals, consumer electronics, food processing, machinery, mining, petroleum, pharmaceuticals, steel, transportation equipment, and textiles.^[50]

However, despite economic growth, India continues to suffer from poverty. 27.5% of the population was living in poverty in 2004–2005.^[51] In addition, 80.4% of the population live on less than USD $2 a day,^[52] which was lowered to 68% by 2009.^[53]