ECONOMIC INFORMATION

 

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Population: 1064.4m

 

Population growth: 1.49%

Population density (people per sq. km): 358

UN Human Development Index ranking: 127/177

Gross national income (current US$): $567.6bn (2003)

Gross national income per capita: $530

PPP Gross national income: $3,067.9bn

PPP Gross national income per capita: $2,880

GDP growth: 6.4% (2003)

GDP breakdown Agriculture: 22.7%, Industry: 25.7%, Services: 51.6%

Inflation (12-month average): 3.2 (2003)

Gross capital formation as % of GDP: 23.9%

Final consumption expenditure as % of GDP (growth): 78.2% (5.5%)

Exports of goods & services as % of GDP: 14.9%

Top 3 export markets: US, UK, Germany

Local industries: Textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software

WEF Growth Competitiveness ranking *: 55/104

WEF Business Competitiveness ranking **: 30/103

WEF Quality of the Business Environment ranking: 32/103

Transparency International Corruption Perceptions ranking: 90/145

Languages : Hindi (official) English language of commerce; 14 regional dialects

 

 

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FDI INFORMATION

 

Region: Southern Asia

No. of projects (Jan-Sep 2004): 986

Market-share of projects in the region: 92.2%

Value of projects relative to GDP : 16.5%

Top 3 destination sectors: IT & software, business services, consumer electronics

Top 3 business functions: Research & development, manufacturing,sales marketing & support

Top 3 source countries: US, UK, Germany

Top 3 investors: LG, General Electric, Intel

 

IPA

 

Name: Indian Investment Centre

 

Web address: www.iic.nic.in

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations