Saturday, 28 December 2019
India's Great Slowdown: What Really Happened
India is currently experiencing an economic slowdown. Take a look at an interesting analysis of Indian economy and the signs and indicators of things going right and wrong.
The economy of India is a developing market economy. It is the world's 5th largest economy by nominal GDP. The service sector is the main source of national income. The service sector contributes more than 50% of the GDP. However, the agricultural sector employs more than 50% of the population. India has a mixed economy. Half of India's workers rely on agriculture, like a traditional economy. One-third of its workers are employed by the services industry, which contributes two-thirds of India's output.