Why is India's GDP falling continuously
Gross Domestic Product: India
The gross domestic product basically indicates the total value of all goods and services that have been produced in an economy within a year and are used for end consumption.
As a result, the gross domestic product is an important measure of the economic performance of a country or an administrative or geographical unit.
The gross domestic product serves as a guide for the economic development of a country and also serves as an international comparison of the performance of national economies.
More on the subject:Gross domestic product: definition of the most important economic variable
For India, too, the gross domestic product is calculated at least once a year.
Since India is one of the world's fastest growing economies, India's gross domestic product is very interesting.
The Indian economy at a glance
Due to its size, demographics and sustained high economic growth, India is considered the most important market of the future after China.
More on the subject: India has greater long-term potential than China
With over 1 billion inhabitants, India is also one of the most populous countries in the world.
India has increasingly opened up to foreign countries and the international market in recent years.
These include the admission of foreign direct investment in most areas of the economy and the abolition of the caps on foreign participation.
However, the areas of agriculture, railways and nuclear power remain closed to international capital.
India also faces major challenges in terms of poverty reduction, infrastructure and education.
Almost 30% of the population of India live below the poverty line of US $ 1 per capita per day.
The average annual per capita income is only US $ 1250.
Although India is home to the largest number of millionaires and billionaires in the world, it is well below sub-Saharan Africa averages on many social indicators.
Nevertheless, India's economic growth has accelerated sharply since the deregulation and privatization of the economy.
The medium- and long-term growth prospects for the Indian economy are often judged to be very favorable.
More on the subject:India: economic development into an economic world power
Against this background, India's economic development and gross domestic product are interesting not only for international investors and the global market, but also for investors who are considering investing in India.
The gross domestic product for India
In an international comparison, India's gross domestic product is generally quite low.
The mismatch between the share of GDP and employment in agriculture and services and the comparatively low importance of the manufacturing industry are characteristic of the Indian economy.
Agriculture's share of the gross domestic product has been falling continuously for years.
The Indian economy owes its growth above all to the service sector, which has always had the largest share of India's gross domestic product.
With an employment share of only 25%, however, only a very small part of the population benefits from this.
After several years of growth of around 9%, the Indian economy also suffered a considerable weakening due to the global economic and financial crisis.
Nevertheless, India's economic development is assessed positively.
China overtakes Germany: New world export champion China's economy is shining in the pandemic year, Germany gets away with a black eye. What does the new year bring? > read more
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