India's diverse economy encompasses traditional village farming, modern

agriculture, handicrafts, a wide range of modern industries, and a multitude

of services.

Source: http://newshopper.sulekha.com/photos/slideshow/others/4/903072.htm

Source: http://www.india-exports.com/gifs/gr.gif

Owned industries remains stalled and continues to generate political debate; populist pressure from within the UPA government had restrained needed initiatives

India was under a socialist-based policy from 1947 until 1991. › Their economy was characterized by protectionism,

extensive regulation, and public ownership; this lead to a pervasive corruption and slow growth.

Since 1991, there has been a continuing economic liberalization which has moved India's economy towards a market-based system.

Since early 2000s, there has been a revival of their economic reforms and better economic policies.

Inflation has been an ongoing threat in India, especially when it reached a peak of 12% in early August, 2008.

India's per capita income (nominal) is $1016, ranked 142th in the world, while its per capita (PPP) of US$2,762 is ranked 129th 

India’s economy has grown by more than 9% for three years running, and has seen a decade of 7%+ growth. This has reduced poverty by 10%, but with 60% of India’s 1.1 billion population living off agriculture

The growth rate of the service sector was 11.18% in 2007 and now contributes 53% of GDP. The industrial sector grew 10.63% in the same period and is now 29% of GDP. Agriculture is 17% of the Indian economy› - 60% of India's population is still living off

agriculture and with the droughts and increasing floods, poverty is still a major challenge for a lot of their population.

The structural transformation that has been adopted by the national government which has reduced growth constraints and prosperity of the country.

Manufacturing is expected to be hit in 2009 due to a decreased demand as a result of the global downturn.

The Indian government plans to accelerate its reforms and push for more investment if it wants to maintain good growth rates in the face of the global slowdown.

Every major drought in India has a pervasive impact on the economy, which is unlikely to meet the government's projected 7% GDP growth this year.

Centre for the Study of the Environment in New Delhi advocates a new, national water policy to make farmers less vulnerable to the vagaries of the monsoon

The Indian government will need to accelerate its reforms and push for more investment if it wants to maintain good growth rates in the face of the global slowdown.

India also is capitalizing on its large numbers of well-educated people skilled in the English language to become a major exporter of software services and software workers

http://southasiainvestor.blogspot.com/2009/05/indias-economy-stalling.html

http://indianeconomy.org/ http://www.economicshelp.org/blog/eco

nomics/indian-economy-2009/

http://www.economywatch.com/world_economy/india/India_Economy_2009_Forecast.html

http://www.time.com/time/world/article/0,8599,1918181,00.html

http://www.economywatch.com/economy-business-and-finance-news/india-drought-how-badly-will-it-affect-indian-economic-growth-24-08.html

http://en.wikipedia.org/wiki/Economy_of_India http://www.economywatch.com/indianeconomy/

indian-economy-overview.html http://www.economywatch.com/indianeconomy/

indian-economy-overview.html http://en.wikipedia.org/wiki/Economy_of_India