01 August 2010
Retail spending, government expenses exports and inventory levels determine GDP growth rate. Elevation in imports will affect GDP growth in a negative way.
Economic strength of a nation is indicated by the GDP growth rate. Development in GDP will eventually boom business, employment opportunities and personal income. On the flip side, if GDP slows down, then business ventures and already established enterprises will come to a halt. This will call off monetary infusion in new purchases, tie-ups and recruiting new employees till the economy gain pace. As a result the GDP further deteriorates because the consumers do not have sufficient money to spend on buying a product or service.
01 August 2010
India Gross Domestic Product (GDP) expanded 7.90% over the last 4 quarters. The India Gross Domestic Product is worth 1217 billion dollars or 1.96% of the world economy, according to the World Bank. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. This page includes: India GDP Growth Rate chart, historical data and news.
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