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Information about the Republic of India
India has gradually become the sixth largest economy in the world and currently is categorised as one of the major G20 economies. It is seen as a newly industrialised country with a population of 1.37 billion and the second largest in the world. India’s economy has a lot to offer since it has evolved over the years.
GAACC presents some interesting facts about Indian Economy:
1) Before the age of European colonization, India accounted for about 25% of the world’s manufactured goods.
2) India is predicted to surpass many of the world’s largest economies by 2050.
3) India is well-known as the home of spices and is the world’s largest producer and exporter of spices.
4) 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.
5) 58% of the rural households in India depend on agriculture as their main source of income and is one of the largest contributors to India’s Gross Domestic Product (GDP).
6) India’s economy can be considered a paradoxical and complex one while having both, the richest and the poorest people.
If you wish to import products from India, please contact us today!
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