economy of india

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Economy of India

The Economy of India is the tenth-largest in the world by nominal GDP and the third-largest by purch

India s mining industry was the 4th largest producer of minerals in the world by volume, and 8th largest producer by value in 2009. In 2013, it mined and processed 89 minerals, of which 4 were fuel, 3 were atomic energy minerals, and 80 non fuel. The government owned public sector accounted for 68 Percent of mineral produced by volume, in 2011 12.

Nearly 50 Percent of India s mining industry, by output value, is concentrated in eight states Odisha, Rajasthan, Chhattisgarh, Andhra Pradesh, Telangana, Jharkhand, Madhya Pradesh and Karnataka. Another 25 Percent of the output by value comes from its offshore oil and gas resources. India operated about 3,000 mines in 2010, half of which were coal, limestone and iron ore. On output value basis, India s was one of five largest producers of mica, chromite, coal, lignite, iron ore, bauxite, barites, zinc, manganese; while being one of the 10 largest global producers of many other minerals. India was fourth largest producer of steel in the world in 2013, and seventh largest producer of aluminum.

India s mineral resources are vast. However, its mining industry has declined contributing 2.3 Percent of its GDP in 2010 compared to 3 Percent in 2000, and employed 2.9 million people a decreasing percentage of its total labor. India is a net importer of many minerals including coal. India s mining sector decline is because of complex permit, regulatory and administrative procedures that take 6 to 20 fold more time than other mining countries such as Australia and South Africa, inadequate infrastructure, shortage of capital resources, and slow adoption of ecologically and environmentally sustainable technologies.

Balance of payments
Market size
Energy and power
Pre liberalisation period
Research and development
Petroleum products and chemicals
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