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The economy of India is a developingmixed economy.^[34] It is the world's sixth-largest economy by nominal GDPand the third-largest by purchasing power parity (PPP). The country ranks 139th in per capita GDP (nominal) with $2,134 and 122nd in per capita GDP (PPP) with $7,783 as of 2018.^[35][36]After the 1991 economic liberalisation, India achieved 6-7% average GDP growth annually. Since 2014 with the exception of 2017, India's economy has been the world's fastest growing major economy, surpassing China.^[37]

Economy ofIndia

Mumbai, Maharashtra is the financial center of India[1][2]
Currency	Indian rupee (INR) ₹1 = 0.015 USD
Fiscal year	1 April  – 31 March
Trade organisations	WTO, WCO, WFTU, G-20, BIS, AIIB, ADB, WCO
Statistics
GDP	$2.848 trillion (nominal; 2018 est)[3] $10.385 trillion (PPP; 2018 est)[3]
GDP rank	6th (nominal) 3rd (PPP)
GDP growth	8.2% (MOSPI Q1, 2018–19)[4]
GDP per capita	$2,134 (nominal; 2018 est)[3] $7,783 (PPP; 2018 est)[3]
GDP per capita rank	139th (nominal) 122nd (PPP)
GDP by sector	Agriculture: 17.32% Industry: 29.02% Services: 53.66% (2016 est.)[5]
Inflation (CPI)	3.58% (October 2018)[6]
Base borrowing rate	6.75% (as on 21 Sept. 2018)[7]
Population below poverty line	5.3% (May 2018)[8][9] (World Poverty Clockestimate)
Gini coefficient	33.9 (2013)[10]
Human Development Index	0.640 (2017) medium[11] (130th)
Labour force	520.2 million (2017 est.)[12]
Labour force by occupation	Agriculture: 47% Industry: 22% Services: 31% (FY 2014 est.)[13]
Unemployment	8.8% (2017 est.)[14]
Average net salary	₹113,000(US$1,600) (2017–18)[15]
Main industries	Textiles chemicals food processing steel cement mining petroleum machinery software pharmaceuticals transportation equipment[16][17]
Ease-of-doing-business rank	77 (2018-19)[18]
External
Exports	$303.4 billion (2017–18)[19]
Export goods	Agriculturalproducts 13.2% Fuels and miningproducts 15.7% Manufacturers68.4% Others 2.7%[20]
Main export partners	European Union 17.4%  United States16.1%  United Arab Emirates 9.6%  Hong Kong 5%  China 4.2% Other 47.8%[20]
Imports	$465.6 billion (2017–18)[19]
Import goods	Agriculturalproducts 7.1% Fuels and miningproducts 33.1% Manufacturers47.8% Other 12%[20]
Main import partners	China 16.6%  European Union 10.4%  United States5.7%  United Arab Emirates 4.9%  Saudi Arabia4.6% Other 57.9%[20]
FDI stock	Inward: $377.68 billion Outward: $155.34 billion (2017)[21]
Current account	0.7% of GDP (2016–17)[22][23]
Gross external debt	$529.7 billion (31 March 2018)[24][25]
Net international investment position	-$420.3 billion (Mar. 2018)[26]
Public finances
Public debt	68.91% of GDP (2018 est.)[27]
Budget balance	- ₹12.25 trillion(US$170 billion) (2018)
Revenues	₹39.86 trillion(US$550 billion) (2018)[28]
Expenses	₹52.11 trillion(US$730 billion) (2018)[28]
Economic aid	$2.68 billion (2016)[29]
Credit rating	Standard & Poor's:[30] BBB− (Domestic) BBB− (Foreign) BBB (T&C Assessment) Outlook: Stable Moody's:[31] Baa2 Outlook: Stable Fitch:[32] BBB− Outlook: Stable
Foreign reserves	$405.8 billion (13 July 2018)[33] (8th)
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars.

The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings^[38]and investment rates, and increasing integration into the global economy.^[39]India topped the World Bank's growth outlook for the first time in fiscal year 2015–16, during which the economy grew 7.6%.^[40] Despite previous reforms, economic growth is still significantly slowed by bureaucracy, poor infrastructure, and inflexible labor laws(especially the inability to lay off workers in a business slowdown).^[41]

India has one of the fastest growing service sectors in the world with an annual growth rate above 9% since 2001, which contributed to 57% of GDP in 2012–13.^[42] India has become a major exporter of IT services, Business Process Outsourcing (BPO) services, and software services with $154 billion revenue in FY 2017.^[43][42] This is the fastest-growing part of the economy.^[44]The IT industry continues to be the largest private-sector employer in India.^[45][46] India is the third-largest start-up hub in the world with over 3,100 technology start-ups in 2014–15.^[47] The agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013–14). India ranks second worldwide in farm output.^[48]The industry (manufacturing) sector has held a steady share of its economic contribution (26% of GDP in 2013–14).^[49] The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in 2013–14.^[50] India had $600 billion worth of retail market in 2015 and one of world's fastest growing e-commerce markets.^[51][52]