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Economic liberalisation in India. The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption -driven.
The economy of India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable public sector in strategic sectors. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 136th by GDP (nominal) and 125th by GDP (PPP).
- 1 April – 31 March
- $2,612 (nominal; 2023 est.), $9,183 (PPP; 2023 est.)
- 7.2% (FY2022-23), 6.3% (FY2023-24)
- Indian rupee (INR, ₹)
The India-Middle East-Europe Economic Corridor ( IMEC) is a planned economic corridor that aims to bolster economic development by fostering connectivity and economic integration between Asia, the Persian Gulf and Europe.
- IMEEC
- India, UAE, Saudi Arabia, Israel, Greece
- 10 September 2023; 32 days ago
- Promote economic development and inter-regional connectivity
India, officially the Republic of India (ISO: Bhārat Gaṇarājya),[21] is a country in South Asia. It is the seventh-largest country by area; the most populous country as of June 2023;[22][23] and from the time of its independence in 1947, the world's most populous democracy.[24][25][26] Bounded by the Indian Ocean on the south, the Arabian ...
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according to International Monetary Fund estimates [n 1] [1] Countries by nominal GDP in 2019 [n 2] > $20 trillion. $10–20 trillion. $5–10 trillion. $1–5 trillion. $750 billion – $1 trillion. $500–750 billion. $250–500 billion.
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When did India become the world's largest economy?
How did India achieve income equality post-independence?
Why were India's exports stagnant after independence?
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
The first set of data on the left columns of the table includes estimates for the year 2023 made for each economy of the 196 economies (189 U.N. member states and 7 areas of Aruba, Hong Kong, Kosovo, Macau, Palestine, Puerto Rico, and Taiwan) covered by the International Monetary Fund (IMF)'s International Financial Statistics (IFS) database.
