1) Mixed Economy - India follows a dual administrative economy in which private players as well as government takes part.2) Low Per Capita Income - Though GDP of India is high but per capita income is quite low compared to other nations due to high population.3) Major Population Dependent on Agriculture - Major proportion of Indian population is engaged in agriculture. 4) An Emerging Market - Being a developing country with great level of economic well-being, India has emerged as an emerging market for the other players. India has a high potential with low investments and risk factors, this also makes it an emerging market for the world. 5) A Major Economy - Emerging as a top economic giant among the world economy, India bags the seventh position in terms of nominal Gross Domestic Product (GDP) and third in terms of Purchasing Power Parity (PPP). 6) Fast Growing Economy - India’s economy is one of the world’s fastest growing economies on the globe. India’s economy has emerged as the world’s fastest growing economy in the last quarter of 2014 and has replaced the People’s Republic of China with a growth rate of approx 7%. 7) Unequal wealth distribution - The Indian economy bears a great disparity between the rich and the poor. There is a complete lop-sided distribution of the wealth in the economy. This is why the rich are becoming richer and the poor are growing even poor in the economy levels.

Main Features of Indian Economy

India, known as one of the world's fastest-growing major economies, possesses several distinct features that shape its economic landscape. The Indian economy is a complex and diverse system influenced by various factors. Here are the main features of the Indian economy:

Diverse Economy:
- India has a diverse economy with a mix of agriculture, industry, and services sectors. While agriculture plays a significant role in rural areas, the services sector has emerged as the largest contributor to the country's GDP.
- The service sector includes IT, telecommunications, banking, tourism, healthcare, and more. It accounts for a substantial portion of employment opportunities in urban areas.

Population:
- India is the second-most populous country in the world, with a vast and diverse population. This population size provides both opportunities and challenges for the economy.
- The large workforce is a valuable asset, as it contributes to productivity and innovation. However, it also puts pressure on job creation and resource allocation.

Informal Sector:
- The Indian economy has a significant informal sector that comprises unregistered and small-scale enterprises. This sector often operates outside the formal regulatory framework and lacks access to credit and social security benefits.
- Informal workers contribute to economic activities such as street vending, small-scale manufacturing, and agriculture. They play a crucial role in employment generation and income generation for a substantial portion of the population.

Income Inequality:
- Income inequality is a significant issue in the Indian economy. While India has witnessed tremendous economic growth in recent decades, the benefits have not been equally distributed.
- There is a significant disparity between the rich and the poor, with a large proportion of the population still living below the poverty line. Bridging this gap and ensuring inclusive growth remains a challenge for policymakers.

Infrastructure Challenges:
- India faces infrastructure challenges, particularly in sectors such as transportation, power, and logistics. Insufficient infrastructure hampers economic growth and affects the overall competitiveness of industries.
- However, the government has been investing in infrastructure development through initiatives like the Bharatmala Project, Sagarmala Project, and Smart Cities Mission to address these challenges.

Global Integration:
- The Indian economy has become increasingly integrated with the global economy. It has experienced significant growth in trade and foreign investment.
- Globalization has opened up avenues for Indian companies to expand internationally and attract foreign investment. However, it also exposes the economy to global shocks and fluctuations.

Demographic Dividend:
- India has a young demographic profile, with a large working-age population. This demographic dividend presents an opportunity for sustained economic growth if harnessed effectively.
- Investments in education, skill development, and job creation are crucial to capitalize on this advantage and ensure productive employment for the youth.

Conclusion:
The Indian economy exhibits a diverse and complex set of features. While it has achieved remarkable growth, challenges such as income inequality, informal sector issues, and infrastructure gaps persist. By leveraging its strengths, addressing these challenges, and implementing effective policies, India can continue on its path of economic development and inclusive growth.

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