17 Informative Stats and Facts about Indian Economy You Should Know

Facts about Indian economy: The Indian economy is known to be a mixed developing economy with a public sector strategically focused on growth. It is the world’s fifth-largest economy by nominal GDP and the third-largest by purchasing power parity on a per capita income basis. India, after gaining independence, introduced a Soviet-style economic model that is associated with materials a state has control of, a protected trading policy, and centralised planning. Industries were mostly run by the government, thus leaving no room for change or inefficiencies. This vision, which is primarily administered rather than through competitive forces, slowed down the country’s economy for many years. Read this blog to learn more informative statistics and facts about the Indian economy.

Informative Stats and Facts about Indian Economy 

First and foremost, here are some statistical and informative facts about the Indian economy that you may find amusing:-

1. With a 17% GDP contribution, agriculture is a major sector of the Indian economy.
2. With over 50% of the workforce employed in this industry, agriculture is also the largest employer in the nation.
3. The industrial sector, including manufacturing, construction, and mining, accounts for around 25% of India’s GDP. 
4. With around 22% of the workforce employed and contributing roughly 26% of the GDP to the Indian economy, the industrial sector is a major employer of labour.
5. Approximately 55% of India’s economic output comes from the services sector, which makes up the largest portion of the GDP.

Also read: 31 Interesting Facts About India’s Geography for Students

Climate Facts about Indian Economy

Apart from the above-mentioned stats, you should also go through these climate facts about the Indian economy for better environmental awareness:- 

5. The Indian economy is focusing on climate change, its impact, and how extreme events in recent decades have affected the world and India as well.
6. India has come up with a climate action plan that comes in line with the target of net zero emissions by 2070.
7. India has also aimed to raise the share of renewable energy and reduce the carbon emissions intensity of GDP by 2030 by updating its nationally determined contributions.
8. India has made several efforts to slow down climate change. At COP27, the nation presented its Long-Term Low Emission Development Strategy, which included goals to boost the production of green hydrogen, increase the capacity to produce electrolysers and use more biofuels. 
9. India has taken several national initiatives, like the National Action Plan on Climate Change, which aims to provide sustainable development and reduce greenhouse gas emissions.

Also read: 60+ Interesting Facts about India

Mind-Blowing Facts About Indian Economy

10. Even though the Indian economy is considered one of the fastest-growing economies in the world, around one-third of the population lives below the poverty line.
11.  India developed strong trading capabilities in the 13th century and succeeded in establishing economic dominance over the larger Indian Ocean region.
12. To promote trade in Southeast Asia and the East Indies, the East India Company was established in Britain.
13.  India is the world’s largest producer and exporter of spices and accounts for half of the trading in spices globally.
14.  India’s economy grew quickly in the 2000s and is expected to overtake many of the largest economies in the world by 2050, making it one of the BRIC countries.
15. India is a major exporter of IT and software services and this sector is considered to be one of the fastest growing within the economy
16. Agriculture is the primary source of income for 58% of rural Indian households and one of the major contributors to the country’s GDP (GDP).
17. Trade Both Domestically And Internationally Is Essential To The Health Of The Indian Economy

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