Economy India - Mauritius

Economy

India is the largest democracy and tenth largest economy in the world. India is the fourth largest economy in the world in terms of Purchasing Power Parity. Indian economy has been growing at a consistent pace since the last decade. The growth rate has sustained despite the current global financial crisis. The economic reform launched in the late eighties and early nineties have helped the building of resurgent India. Economic liberalization has not only changed the mindset of the entrepreneurs, but also made them conscious of maintaining a competitive edge in terms of prices, quality and consumer preferences. It has also improved productivity of firms by providing access to technology, intermediate inputs and capital goods. India - with its consistent growth performance and abundant highly skilled manpower provides vast opportunities for investments. 

INDIA'S MACROECONOMIC INDICATORS

INDICATORS

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09

2009-10

               

GDP (at current prices, US$ bn)

599.4

700.9

808.7

916.4

1173.1e

1179.8e

1217.6 f

GDP Growth (at constant prices, %)

8.5

7.5

9.5

9.7

9.0

6.7*

6.0 #

       Agriculture & allied

10.0

0.0

5.8

4.0

4.9

1.6*

-

      Industry

7.4

10.3

10.2

11.0

8.1

3.9*

-

      Services

8.5

9.1

10.6

11.2

10.9

9.7*

-

               

Sectoral Share in GDP (%)

 

 

 

 

 

 

 

      Agriculture & allied

21.7

20.2

19.5

18.5

17.8

17.0*

-

      Industry

25.6

26.2

26.4

26.7

26.5

25.8*

-

      Services

52.7

53.6

54.1

54.8

55.7

57.3*

-

               

Inflation rate (WPI, avg.  %)

5.5

6.5

4.4

5.4

4.7

8.3

-1.30 (June 20)

               

Gross Fiscal Deficit (% of GDP)

4.5

4.0

4.1

3.5

2.7

6.0e

5.5e

               

Exchange Rate (Rs/US$, avg.)

46.0

44.9

44.3

45.3

40.2

45.9

47.79 (July 2)

Exchange Rate (Rs/Euro, avg.)

54.0

56.5

53.9

58.1

57.0

65.1

64.47 (July 2)

               

Exports (US$ bn)

63.8

83.5

103.1

126.3

163.1

168.7

21.8 (Apr-May)

            % change

21.1

30.9

23.4

22.5

29.2

3.4

-31.2^

Imports (US$ bn)

78.1

111.5

149.2

185.6

251.7

287.8

32.0 (Apr-May)

            % change

27.3

42.7

33.8

24.4

35.6

14.3

-38.0^

Trade Balance (US $ bn)

-14.3

-28.0

-46.1

-59.3

-88.5

-119.1

-10.2 (Apr-May)

               

Services Exports (US$ bn)

26.9

43.2

57.7

73.8

90.1

101.2

-

   Software Exports (US$ bn)

13.3

17.7

23.6

31.3

40.3

47.0

-

Services Imports (US$ bn)

16.7

27.8

34.5

44.3

52.5

51.4

-

   Services Balance (US$ bn)

10.1

15.4

23.2

29.5

37.6

49.8

-

               

Current Account Balance (US$ bn)

14.1

-2.5

-9.9

-9.6

-17.0

-29.8

-

      CAB as percentage of GDP (%)

2.3

-0.4

-1.2

-1.1

-1.5

-2.6

-

               

Forex Reserves (US$ bn)

113.0

141.5

151.6

199.2

309.7

252.0

263.7 (June 19)

               

External Debt (US $ bn)

111.6

133.0

138.1

171.3

224.6

229.9

-

External Debt to GDP Ratio (%)

17.8

18.6

17.2

18.1

19.0

22.0

-

Short Term Debt / Total Debt (%)

4.0

13.3

14.1

16.4

20.9

21.5

-

               

Foreign Investment Inflows (US$ bn)

15.7

15.4

21.5

29.8

63.8

19.8

4.6 (April)

               

      FDI (US$ bn)

4.3

6.1

9.0

22.8

34.4

33.6

2.3 (April)

      GDRs/ADRs (US$ bn)

0.5

0.6

2.6

3.8

8.8

1.2

0.0 (April)

      FIIs (net) (US$ bn)

10.9

8.7

9.9

3.2

20.3

-15.0

2.2 (April)

               

FDI Outflows (US$ bn)

2.1

2.3

6.1

13.1

18.4

17.5 @

-

Source : Economic Survey, Various issues; Union Budget 2009-10, RBI Monthly Bulletin, Annual Report & Weekly Statistical Supplement;Ministry of Finance; Ministry of Commerce & Industry; CSO; Institute of International Finance (IIF); EIU; NASSCOM.

$ Short term debt coverage increased beginning with the quarter ended March 2005, with the inclusion of (i) suppliers' credits up to 180 days and (ii) investment by Foreign Institutional Investors (FII) in short-term debt instruments.

e  estimates; f  IIF Forecast for annual GDP, * - CSO Revised Estimates,  -  Not available, ^ Growth over corresponding period of previous year.

# RBI projections, @ Preliminary. 

Updated on July 2, 2009

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