Introduction of India
Essay Preview: Introduction of India
Report this essay
Introduction of India:
India, officially the Republic of India is a country in South Asia. It is the second-most population country in the world with over 1.2 billion of people.New Delhi is the capital of India and is the heart of economic and political.
Moreover, The Indian economy is the worlds seventh-largest by nominal GDP and third-largest by purchasing power parity (PPP). Following market-based economic reforms in 1991, India became one of the fastest-growing major economies
Nowadays, India is no longer being a poor country. With advanced technology, better economic system and different aspects, it becomes a poetical market (Emerging Market).
Macroeconomic indication of India by comparing with Vietnam:
Table 1
India
China
1877 USD Billion
9240 USD billion
Inflation Rate
5.01%
1.2 %
Unemployment Rate
4.1 %
Trade Balance
-10406 USD Million
595 USD Million
Government Budget
-4.5% of GDP
-2.1% of GDP
From the table1,
First, GDP of India is 8 times lower than China. It means that the economic performance of China is better than India. People in China are more welfare
Second, normally, stable inflation means that the economic performance is going a good direction. However, as inflation rate of India is very high, it raises 5% per year. People in India need to spend more money