Economy - overview India's economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of support services. About a quarter of the population is too poor to be able to afford an adequate diet. India's international payments position remained strong in 2001 with adequate foreign exchange reserves, and moderately depreciating nominal exchange rates. Growth in manufacturing output has slowed, and electricity shortages continue in many regions. India has large numbers of well-educated people skilled in English language; India is a major exporter of software services and software workers.

GDP purchasing power parity - $2.5 trillion (2001 est.)

GDP - real growth rate 5% (2001 est.)

GDP - per capita purchasing power parity - $2,500 (2001 est.)

GDP - composition by sector
agriculture: 25%
industry: 26%
services: 49% (2001)

Population below poverty line 25% (2001 est.)

Household income or consumption by percentage share
lowest 10%: 3.5%
highest 10%: 33.5% (1997)

Distribution of family income - Gini index 37.8 (1997)

Inflation rate (consumer prices) 3.5% (2000 est.)

Labor force 406 million (1999)

Labor force - by occupation agriculture 60%, services 23%, industry 17% (1999)

Unemployment rate 4.4% (1999)

Budget
revenues: $48.3 billion
expenditures: $78.2 billion, including capital expenditures of $13.5 billion (FY01/02 est.)

Industries textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software

Industrial production growth rate 4.3% (2001 est.)

Electricity - production 547.12 billion kWh (FY 2000-01, utilities only) (2000)

Electricity - production by source
fossil fuel: 83.4%
hydro: 13.85%
other: 0.18% (2000)
nuclear: 2.57%

Electricity - consumption 509.89 billion kWh (2000)

Electricity - exports 321 million kWh (2000)

Electricity - imports 1.385 billion kWh (2000)

Agriculture - products rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes; cattle, water buffalo, sheep, goats, poultry; fish

Exports $44.5 billion (f.o.b., 2001)

Exports - commodities textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures

Exports - partners US 22.8%, Hong Kong 5.8%, Japan 5.3%, UK 5.3%, Germany 4.6% (2000)

Imports $53.8 billion (f.o.b., 2001)

Imports - commodities crude oil, machinery, gems, fertilizer, chemicals

Imports - partners Benelux 8.5%, US 8%, UK 6.2%, Japan 5.7%, Saudi Arabia 4.6% (2000)

Debt - external $100.3 billion (end-March 2001)

Economic aid - recipient $2.9 billion (FY98/99)

Currency Indian rupee (INR)

Currency code INR

Exchange rates Indian rupees per US dollar - 48.336 (January 2002), 47.186 (2001), 44.942 (2000), 43.055 (1999), 41.259 (1998), 36.313 (1997)

Fiscal year 1 April - 31 March

NOTE: The information regarding India on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of India Economy 2002 information contained here. All suggestions for corrections of any errors about India Economy 2002 should be addressed to the CIA.