India has a coastline of 7,500 kilometres 4,700 mi with 13 major ports and 60 operational non-major ports, which together handle 95% of the country's external trade by volume and 70% by value most of the remainder handled by air. But within a fortnight, then Finance Minister P Chidambaram had to re-engineer an aircraft that was flying high. The trend in growth in invisible receipts continued with 26. The Indian is classified into the organised sector, comprising private, public and foreign-owned and banks, together known as 'scheduled banks'; and the unorganised sector, which includes individual or family-owned indigenous bankers or and. By the end of calendar year 2015, India had an electricity surplus with many power stations idling for want of demand. There is a continuing debate on whether India's economic expansion has been pro-poor or anti-poor.
In response, the government, including Finance Minister , initiated in 1991. Further north, the and coasts played an important role in maritime trade, and the and the housed several centres of river-borne commerce. India's current account deficit reached an all-time high in 2013. For the first time since 1990, India grew faster than China which registered 6. India exports more than 100,000 tonnes of processed cashew kernels every year. Help us delete comments that do not follow these guidelines by marking them offensive.
However, the former was devastated by the and then in the mid-18th century. It has since handled the change by squeezing costs, revamping management, and relying on cheap labour and new technology. Bureau of Labour Statistics, Indian Government. De-regulation The government de-regularised the civil aviation sector in 1991 when the government allowed private airlines to operate charter and non-scheduled services under the 'Air Taxi' Scheme until 1994, when the Air Corporation Act was repealed and private airlines could now operate scheduled services. Since economic liberalisation in the 1990s, precipitated by a balance-of-payment crisis, India's exports rose consistently, covering 80.
No data is available for the union territories of , and. India has strengths in telecommunication, information technology and other significant areas such as auto components, chemicals, apparels, pharmaceuticals, and jewellery. As of 2013 —14, only IndiGo and GoAir were generating profits. The political stability and uniform revenue policy resulting from a centralised administration under the Mughals, coupled with a well-developed internal trade network, ensured that India—before the arrival of the British—was to a large extent economically unified, despite having a traditional agrarian economy characterised by a predominance of , with 64% of the in the including agriculture , but with 36% of the workforce also in the and , higher than in Europe, where 65—90% of its workforce were in agriculture in 1700 and 65—75% were in agriculture in 1750. Six low-income states — , Chhattisgarh, , Madhya Pradesh, and — are home to more than one-third of India's population.
At the same time, right-wing historians have countered that India's low economic performance was due to various sectors being in a state of growth and decline due to changes brought in by colonialism and a world that was moving towards industrialisation and. India has a large pool of skilled managerial and technical expertise. India's road infrastructure carries 60% of freight and 87% of passenger traffic. Indian agriculture is diverse, ranging from impoverished farm villages to developed farms using modern agricultural technologies. However, it has also been criticised as an unsustainable effort, resulting in the growth of capitalistic farming, ignoring institutional reforms and widening income disparities. Domestic policy tended towards protectionism, with a strong emphasis on , , a large government-run , , and , while trade and foreign investment policies were relatively liberal. On detailed examination it is seen that growth in exports has largely been in primary products like sugar 95% , rice 87% , oil meal 62.
The growth euphoria of the previous years had led to a widespread notion that the Indian economy was decoupled from that of the developed world. Central Water Commission, Government of India. Post-liberalisation, the Indian private sector was faced with increasing domestic and foreign competition, including the threat of cheaper Chinese imports. Statistically, 11 out of 12 diamonds set in any jewellery in the world are cut and polished in India. The rupee has been fairly stable during the decade 2000—2010.
Archived from on 23 October 2005. Ministry of Road transport and highways. . This image shows a farming community in a more prosperous part of India. In 2011, it was widely criticised and beset with controversy for corrupt officials, deficit financing as the source of funds, poor quality of infrastructure built under the programme, and unintended destructive effects. Cities and towns boomed under the Mughal Empire, which had a relatively high degree of for its time, with 15% of its population living in urban centres, higher than the percentage of the urban population in contemporary Europe at the time and higher than that of in the 19th century.
The exports grew at an annual average growth rate of 26. Key industries included , , and , and processed exports included textiles, , , , products, , and foods such as , and. Details of awards and programmes etc. It includes transport equipment, machine tools, capital goods, transformers, switchgears, furnaces, and cast and forged parts for turbines, automobiles and railways. Mining and Construction Mining Indian coal production is the 3rd highest in the world according to the 2008 Indian Ministry of Mines estimates. The services in the outsourcing industry in India caters mainly to Western operations of.
Literacy rates and educational opportunities vary by region, gender, urban and rural areas, and among different social groups. The central bank has forecast the economy, Asia's third largest, would expand by 8. Ministry of Statistics and Programme Implementation. The Mughal Empire had a thriving economy, with India producing about 25% of the world's industrial output up until 1750, making it the most important manufacturing center in. Main data source: All values, unless otherwise stated, are in. The right to education at elementary level has been made one of the fundamental rights under the of 2002, and legislation has been enacted to further the objective of providing free education to all children. The policy of concentrating simultaneously on capital- and technology-intensive heavy industry and subsidising manual, low-skill was criticised by economist , who thought it would waste capital and labour, and retard the development of small manufacturers.
Tips for farmers are also given. In November 2010, exports increased 22. Also, inventories, financial services, manufacturing and the farm sector rose less. The in India is one of the major producers of paper in the world and has adopted new manufacturing technology. Since then, the overall thrust of liberalisation has remained the same, although no government has tried to take on powerful lobbies such as trade unions and farmers, on contentious issues such as reforming labour laws and reducing. According to the revised methodology, the world had 872.