Changes

== Economy ==

== Economy ==

The '''economy of [[India]]''', measured in [[Dollar|USD]] [[exchange rate|exchange-rate]] terms, is the [[List of countries by GDP (nominal)|twelfth largest]] in the world, with a GDP of around $1 trillion (2008).<ref name="TOI">[https://timesofindia.indiatimes.com/Business/Economy_loses_trillion-dollar_status/articleshow/3186378.cms The Times of India]</ref> 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.<ref name="gdp-growthrate">{{cite news | title=India Defies Turmoil With Growth of 8.8% | date= May 31, 2007 | publisher=MarketWatch | url=http://online.wsj.com/article/SB121213639165032371.html?mod=googlenews_wsj}}</ref> 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 of India|population]] has an estimated [[per capita]] income of $2,563, measured by PPP, and $941, measured in nominal terms as of 2007

The '''economy of [[India]]''', measured in [[Dollar|USD]] [[exchange rate|exchange-rate]] terms, is the [[List of countries by GDP (nominal)|seventh-largest]] in the world, with a GDP of around $3 trillion as of 2020. India 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.<ref name="gdp-growthrate">{{cite news | title=India Defies Turmoil With Growth of 8.8% | date= May 31, 2007 | publisher=MarketWatch | url=http://online.wsj.com/article/SB121213639165032371.html?mod=googlenews_wsj}}</ref> 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 of India|population]] has an estimated [[per capita]] income of $2,563, measured by PPP, and $941, measured in nominal terms as of 2007

=== Economic History ===

=== Economic History ===