Economy of India

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The economy of India, measured in USD exchange-rate terms, is the twelfth largest in the world, with a GDP of around $1 trillion (2008). It recorded a GDP growth rate of 9.1% for the fiscal year 2007–2008 which makes its growth the second fastest among emerging economies in the world, after China. At this rate of sustained growth many economists forecast that India would, over the coming decades, have a more pronounced economic effect on the world stage. Despite this phenomenal rate of growth, India's large population has an estimated per capita income of $2,563, measured by PPP, and $941, measured in nominal terms as of 2007