Business Services

Thanks for visiting Services category. In this category you will find out Business Services India, Business Service Providers, India Business Services . Also in this category you can post classified related to Business Services India, Business Service Providers, India Business Services .

Business and Economy in India

Position of the Economy

Indian economy is the eleventh largest economy in the world by nominal GDP and in terms of purchasing power parity which is PPP it is the fourth largest. It was going by the socialist inspired economy post independence; India started to develop a fast paced economic growth as free market principles were into the picture in 1990 for international competition and foreign investment.

India is an economic power with lots of natural resources, human resources and also a lot of skilled professionals who are on the rise. According to Economists they predict that India will be among the leading economies of the world by 2020. As per the BRIC report India will be the second largest economy in 2043 after China.

The economy from 1947 to 1991 was characterized by protectionism, extensive regulation, pervasive corruption, public ownership and slow growth but after that continuing economic liberalization has shifted the country toward a market-based economy. During these times Indian cities have began to liberalize business regulations any by 2008 India has proved itself as the world's second fastest growing major economy.

Service industry in India

The service industry in India accounts for 55 percent of the country's GDP, the industrial and agricultural sector 28 to 17 percent. The predominant occupation of Indians is Agriculture, which is what keeps many of the Indians employed. The main agricultural products of India include wheat, rice, oilseed, cotton, tea, jute, potatoes, sugarcane, etc. The main industries are textiles, chemicals, food processing, steel, telecommunications, transportation tools and equipment, cement, petroleum, mining, information technology, machinery and pharmaceuticals. The per capital income of India is ranked 139th in the world.

Agriculture

India stands second in the world in the output of agriculture. India gets an average rainfall of one thousand two hundred millimeters and an annual precipitation of 4000 billion cubic meters with the total utilizable water resources which include the ground water and surface water of 1123 billion cubic meters.
The water resources which are inland comprise of canals, rivers, lakes, ponds and marine resources consist of the west and east cost of the Indian Ocean. The bays and gulfs keep the people employed by providing jobs in the fisheries sector. India had the world's largest fishing industry in the year 2008.

Power and Energy

Indian oil reserves manage to meet 25 percent of the domestic oil demand of the country. Oil and natural gas fields are situated offshore at Krishna Godavari Basin, Mumbai High, and the Cauvery delta and the onshore in Gujarat, Rajasthan and Assam. In the 2009 India imported 2,560,000 barrels of oil per day and made it the largest buyer of crude oil in the world.

Collapse