20 Important facts about Indian Economy-2020

India's economy has become the 5th largest economy (in terms of nominal GDP) in the world. We have compiled some important data of the Indian economy for the different competitive exams.

The size of major economies of the world is as follows; (in terms of Nominal GDP-IMF Estimates 2019)

1. U.S.A         - $21.43 trillion.

2. China        - $14.14 trillion.

3. Japan        - $5.15 trillion.

4. Germany - $3.86 trillion.

5.India -           $ 2.93 trillion

6. U.K.        -   $2.74 trillion.

7.  France    - $2.70 trillion.

This article contains all the latest data related to the Indian economy. Let’s have a look

1. Demographic profile of India;

Total Population: 1.35 billion

Population Growth Rate: 1.08% (2019)

Literacy: 74.04% (2011 census)

Male: 82.14%

Female: 65.46%

Life Expectancy: 67.4 years (men), 70.2 years (women) (2012-16, National Health Profile-2019)

Languages: Hindi, English and at least 16 other official languages

Religions:

a. Hinduism    (79.8%))

b. Islam          (1 4.2%)

c. Christianity (2.3%),

d. Sikhism       (1.7%)

e. Buddhism     (0.7%)

f. Jainism         (0.4%)

2. Area:

Total Area: 3,287,263 sq km. (3,214 km from North to South and 2,933 km from East to West)

Land: 2,973,190 sq km

Water: 314,070 sq km

3. Natural Resources found: Coal (fourth-largest reserves in the world), petroleum, natural gas, bauxite, iron ore, mica, manganese, diamonds, gold and limestone.

4. Gross Value Added (GVA) Composition by Sector (2017-18 2nd Advance Estimate)

a. Services Sector: 54.53%

b. Industry Sector: 29.6%

c. Agriculture Sector: 16.14%

5. Fiscal Year: April 01 – March 31

6. Foreign Exchange Reserves: US$ 481.922 billion (March. 2020)

7. Value of India's Exports: US$ 356.96 billion in April-November 2019.

8. Crucial export partners of India: USA,  UAE, China, Hongkong, Singapore UK, Bangladesh 

9. Share of Top Investing Countries FDI Equity Inflows:  April 2000 – June 2019)

a. Mauritius (32%) 

b. Singapore (20%)

c. UK (6%)

d. Japan (7%)

e. Netherlands (7%)

f. USA (6%)

g. Germany (3%)

Countrywise FDI  in India 

10. External Debt on India: USD 557.4 billion (March 2020)

11. Gold Reserves in India:  618.16 Tonnes Q4 quarter of 2019

12. Per Capita GDP in India:  US$ 2171 International Monetary Fund (2019)

13. Major Sectors Attracting Highest FDI Equity Inflows: (April 2000 – June 2019)

a. Services Sector (18%) 

b. Telecommunications (8%) 

c. Computer Software and Hardware (9.5%) 

d. Construction Development (6%) 

e. Automobile (5.8%)

f. Trading (6%) 

g. Drugs and Pharmaceuticals (4%) 

h. Chemicals (4%) 

i. Power (3%)

j. Construction Activities (4%)

FDI Inflow in India:- (2014 to 2018)

14. Airports: Managed by the Airports Authority of India

Total Airports in India: 137

International Airports: 23

Civil enclaves: 20

15. Railways:

Railways Network: 108,706 km

Passenger Trains: 13452

Freight Trains: 9141

Total Railways Stations: 7,172

Daily Travellers: 23 million

16. Roadways:

Total Road Network: 4.87 million km (second largest in the world)

Indian roads carry about 65% of freight and 85% of passenger traffic.

17. Current Account Deficit (CAD): US$1.4 billion in the third quarter of 2019/20

18. Waterways: 14,500 km

19. Major Ports of Entry:

Mumbai, Chennai, Kolkata, Haldia, Kandla, Ennore, Paradip, Tuticorin and Vishakhapatnam, Jawaharlal Nehru Port Trust, Kochi, Mormugao and New Mangalore.

Above mentioned figures show the Indian economy has very good growth prospects in the coming years. These data are very crucial for all the competitive exams held in India, so aspirants need to pay full attention while going through them.

What is the Sector-wise contribution of GDP in India?