India- Economic Landscape

Economic profile

GDP: US$ 481.4 billion (2002)
Average real GDP growth: 5.4 percent (2001-02)
Inflation rate measured by CPI: 5.1 percent (2001-02)
Average savings rate: 23 percent (2001-02)
Cumulative FDI approved: US$ 74.3 billion (1991-2001)
Cumulative FDI inflow: US$ 28 billion (1991-2001)
Cumulative foreign institutional investments: US$ 22.6 billion (1991-2001)
Foreign exchange reserves: US$ 100 billion (December 2003)
Foodgrains production: 209 million tonnes (2001-2002)
Buffer foodgrains stock: 50 million tonnes
Merchandise Exports: US$ 43.8 billion (2001-02)
Principal exports: Traditional exports include cotton yarn and textiles, readymade garments, leather goods, gems and jewellery and agricultural and processed food products. However, chemicals, pharmaceuticals, engineering goods, automotive components, transport equipment, software, electronic goods and manufactured metals constitute the rapidly growing export segments.
Principal markets for exports: USA, Canada, UK, Germany, Japan, Russia, Belgium, Iran, Kuwait, Saudi Arabia, Chile, Argentina, Brazil, Mexico, China, Hong Kong, Singapore, Thailand, Malaysia and Sri Lanka.
Imports: US$ 51.4 billion (2001-02).
Principal imports: Capital goods, crude oil, lubricants and other petroleum products, precious and semi-precious stones, chemicals, edible oils and fertilizers.
Principal markets of imports: USA, UK, Japan, Germany, Nigeria, Iran, Kuwait, Saudi Arabia, Brazil, Chile, Egypt, Ghana, South Africa, China, Hong Kong, Singapore, Malaysia and Thailand.