Indian economy is one of the largest and fastest
growing economies in the world. The economy of India is the third
largest in terms of purchasing power parity (PPP) and is classified a
low-income economy by the World Bank. Indian economy is diverse and
encompasses manufacturing, services, agriculture, handicrafts, textile
and many other industries. However, a large portion of the Indian
workforce depends on agriculture for their livelihood.
A large number of English speaking graduates coupled with software
engineers have transformed India as an important hub of IT industry and
"back office" capital of the world. India is now an important
exporter of highly-skilled software, financial services professionals.
In addition to the above mentioned sectors, other sectors like
pharmaceuticals, manufacturing, biotechnology, telecommunication,
aviation and tourism are also showing strong potential for higher growth
rates.
