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).[1] 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.[2] 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