INDIAN Economy Vs

INDIAN Economy vs US Economy
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INDIAN Economy vs. US Economy

The Economy of India is the ninth largest in the world by nominal GDP and the third largest bypurchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. In 2011, the country's GDP PPP per capita was $3,703 IMF, 127th in the world, thus making a lower-middle income economy. After the independence-era Indian economy (before and a little after 1947) was inspired by theSoviet model of economic development, with a large public sector, high import duties combined with interventionist policies, leading to massive inefficiencies and widespread corruption. However, later on India adopted free market principles and liberalized its economy to international trade under the guidance of Manmohan Singh, who then was the Finance Minister of India under the leadership of P.V.Narasimha Rao the then Prime Minister. Following these strong economic reforms, the country's economic growth progressed at a rapid pace with very high rates of growth and large increases in the incomes of people. India recorded the highest growth rates in the mid-2000s, and is one of the fastest-growing economies in the world. The growth was led primarily due to a huge increase in the size of the middle class consumer, a large labor force and considerable foreign investments. India is thenineteenth largest exporter and tenth largest importer in the world. Economic growth rates are projected at around 7% for the 2011-12 fiscal year.
Overview
A combination of protectionist, import-substitution, and Fabian socialistinspired policies governed India for sometime after India's Independence from the British. The economy was then characterised by extensive regulation, protectionism, public ownership, pervasive corruption and slow growth.Since 1991, continuing economic liberalisation has moved the country towards a market-based economy. By 2008, India had established itself as one of the world's fastest growing economies. Growth significantly slowed to 6.79% in 200809, but subsequently recovered to 7.4% in 200910, while the fiscal deficit rose from 5.9% to a high 6.5% during the same period. Indias current account deficit surged to 4.1% of GDP during Q2 FY11 against 3.2% the previous quarter. The unemployment rate for 2010-11, according to the state Labour Bureau, was 9.8% nationwide. As of 2011, India's public debt stood at 62.43% of GDP which is highest among the emerging economies.
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India's large service industry accounts for 57.2% of the country's GDP while the industrial and agricultural sectors contribute 28.6% and 14.6% respectively. Agriculture is the predominant occupation in Rural India, accounting for about 52% of employment. The service sector makes up a further 34%, and industrial sector around 14%.[17] However, statistics from a 200910 government survey, which used a smaller sample size than earlier surveys, suggested that the share of agriculture in employment had dropped to 45.5% Major industries include telecommunications, textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software and pharmaceuticals. The labour force totals 500 million workers. Major agricultural products include rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes, cattle, water buffalo, sheep, goats, poultry and fish. In 20092010, India's top five trading partners are United Arab Emirates, China, United States, Saudi Arabia and Germany. Previously a closed economy, India's trade and business sector has grown fast.[13] India currently accounts for 1.5% of world trade as of 2007 according to the World Trade Statistics of the WTO in 2006, which valued India's total merchandise trade (counting exports and imports) at $294 billion and India's services trade at $143 billion. Thus, India's global economic engagement in 2006 covering both merchandise and services trade was of the order of $437 billion, up by a record 72% from a level of $253 billion in 2004. India's total trade in goods and services has reached a share of 43% of GDP in 2005 06, up from 16% in 199091. India's total merchandisee trade (counting exports and imports) stands at $ 606.7 billion and is currently the 9th largest in the world.
Sectors
Industry and services
Industry accounts for 28% of the GDP and employ 14% of the total workforce. In absolute terms, India is 12thin the world in terms of nominal factory output. The Indian industrial sector underwent significant changes as a result of the economic reforms of 1991, which removed import restrictions, brought in foreign competition, led to privatisation of certain public sector industries, liberalised the FDI regime, improved infrastructure and led to an expansion in the production of fast moving consumer goods. Post-liberalisation, the Indian private sector was faced with increasing domestic as well as foreign competition, including the threat of cheaper
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Chinese imports. It has since handled the change by squeezing costs, revamping management, and relying on cheap labour and new technology. However, this has also reduced employment generation even by smaller manufacturers who earlier relied on relatively labour-intensive processes. Textile manufacturing is the second largest source of employment after agriculture and accounts for 20% of manufacturing output, providing employment to over 20 million people. As stated in late January, by the then Minister of Textiles, India, Shri Shankersinh Vaghela, the transformation of the textile industry from a degrading to rapidly developing industry, has become the biggest achievement of the central government. After freeing the industry in 20042005 from a number of limitations, primarily financial, the government gave the green light to the flow of massive investment both domestic and foreign. During the period from 2004 to 2008, total investment amounted to 27 billion dollars. By 2012, still convinced of the government, this figure will reach 38 billion as expected; these investments in 2012 will create an additional sector of more than 17 million jobs. But demand for Indian textiles in world markets continues to fall. According to Union Minister for Commerce and Industries Kamal Nath, only during 20082009 fiscal year (which ends 31 March) textile and clothing industry will be forced to cut about 800 thousand new jobs nearly half of the rate of two million, which will have to go all the export-oriented sectors of Indian economy to soften the impact of the global crisis. Ludhiana produces 90% of woollens in India and is known as the Manchester of India. Tirupur has gained universal recognition as the leading source of hosiery, knitted garments, casual wear and sportswear. India is 13th in services output. The services sector provides employment to 23% of the work force and is growing quickly, with a growth rate of 7.5% in 19912000, up from 4.5% in 195180. It has the largest share in the GDP, accounting for 55% in 2007, up from 15% in 1950. Information technology and business process outsourcing are among the fastest growing sectors, having a cumulative growth rate of revenue 33.6% between 199798 and 200203 and contributing to 25% of the country's total exports in 200708. The growth in the IT sector is attributed to increased specialisation, and an availability of a large pool of low cost, highly skilled, educated and fluent English-speaking workers, on the supply side, matched on the demand side by increased demand from foreign consumers interested in India's service exports, or those looking to outsource their operations. The share of the Indian IT industry in the country's GDP increased from 4.8 % in 200506 to 7% in 2008.[70] In 2009, seven Indian firms were listed among the top 15 technology outsourcing companies in the world.
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Mining forms an important segment of the Indian economy, with the country producing 79 different minerals (excluding fuel and atomic resources) in 200910, including iron ore, manganese, mica, bauxite, chromite, limestone, asbestos, fluorite, gypsu m, ochre, phosphorite and silica sand.[72]Organised retail supermarkets [73] accounts for 24% of the market as of 2008. Regulations prevent most foreign investment in retailing. Moreover, over thirty regulations such as "signboard licences" and "anti-hoarding measures" may have to be complied before a store can open doors. There are taxes for moving goods from state to state, and even within states. Tourism in India is relatively undeveloped, but growing at double digits. Some hospitals woo medical tourism.
Agriculture
India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 15.7% of the GDP in 200910, employed 52.1% of the total workforce, and despite a steady decline of its share in the GDP, is still the largest economic sector and a significant piece of the overall socio-economic development of India. Yields per unit area of all crops have grown since 1950, due to the special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology, application of modern agricultural practices and provision of agricultural credit and subsidies since the Green Revolution in India. However, international comparisons reveal the average yield in India is generally 30% to 50% of the highest average yield in the world.[76] Indian states Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Andhra Pradesh, Bihar, West Bengal and Maharashtra are key agricultural contributing states of India. India receives an average annual rainfall of 1,208 millimetres (47.6 in) and a total annual precipitation of 4000 billion cubic metres, with the total utilisable water resources, including surface and groundwater, amounting to 1123 billion cubic metres. 546,820 square kilometres (211,130 sq mi) of the land area, or about 39% of the total cultivated area, is irrigated.[78] India's inland water resources including rivers, canals, ponds and lakes and marine resources comprising the east and west coasts of the Indian ocean and other gulfs and bays provide employment to nearly six million people in the fisheries sector. In 2008, India had the world's third largest fishing industry. India is the largest producer in the world of milk, jute and pulses, and also has the world's second largest cattle population with 175 million animals in 2008. It is the second largest producer of rice, wheat, sugarcane, cotton and groundnuts, as well as the second largest fruit and vegetable producer, accounting for 10.9% and 8.6% of the world fruit and vegetable production
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respectively. India is also the second largest producer and the largest consumer of silk in the world, producing 77,000 million tons in 2005.[81]
Banking and finance

The Indian money market is classified into the organised sector, comprising private, public and foreign owned commercial banks and cooperative banks, together known as scheduled banks, and the unorganised sector, which includes individual or family owned indigenous bankers or money lenders andnon-banking financial companies. The unorganised sector and microcredit are still preferred over traditional banks in rural and suburban areas, especially for non-productive purposes, like ceremonies and short duration loans. Prime Minister Indira Gandhi nationalised 14 banks in 1969, followed by six others in 1980, and made it mandatory for banks to provide 40% of their net credit to priority sectors like agriculture, small-scale industry, retail trade, small businesses, etc. to ensure that the banks fulfill their social and developmental goals. Since then, the number of bank branches has increased from 8,260 in 1969 to 72,170 in 2007 and the population covered by a branch decreased from 63,800 to 15,000 during the same period. The total bank deposits increased from 5,910 crore (US$1.18 billion) in 197071 to 3,830,922 crore (US$764.27 billion) in 200809. Despite an increase of rural branches, from 1,860 or 22% of the total number of branches in 1969 to 30,590 or 42% in 2007, only 32,270 out of 500,000 villages are covered by a scheduled bank. India's gross domestic saving in 200607 as a percentage of GDP stood at a high 32.7%.More than half of personal savings are invested in physical assets such as land, houses, cattle, and gold. The public sector banks hold over 75% of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. Since liberalisation, the government has approved significant banking reforms. While some of these relate to nationalised banks, like encouraging mergers, reducing government interference and increasing profitability and competitiveness, other reforms have opened up the banking and insurance sectors to private and foreign players.
Energy and power

As of 2009, India is the fourth largest producer of electricity and oil products and the fourth largest importer of coal and crude-oil in the world. Coal and oil together account for 66 % of the energy consumption of India. India's oil reserves meet 25% of the country's domestic oil demand. As of 2009, India's total proven oil reserves stood at 775 million metric tonnes
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while gas reserves stood at 1074 billion cubic metres. Oil and natural gas fields are located offshore at Mumbai High, Krishna Godavari Basin and the Cauvery Delta, and onshore mainly in the states of Assam, Gujarat and Rajasthan.[94] India is the fourth largest consumer of oil in the world and imported $82.1 billion worth of oil in the first three quarters of 2010, which had an adverse effect on its current account deficit.[90] The petroleum industry in India mostly consists of public sector companies such as Oil and Natural Gas Corporation (ONGC), Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOCL). There are some major private Indian companies in the oil sector such as Reliance Industries Limited (RIL) which operates the world's largest oil refining complex. As of December 2011, India had an installed power generation capacity of 185.5 Giga Watts(GW), of whichthermal power contributed 65.87%, hydroelectricity 20.75%, other sources of renewable energy 10.80%, andnuclear power 2.56%.. India meets most of its domestic energy demand through its 106 billion tonnes of coal reserves.[97] India is also rich in certain renewable sources of energy with significant future potential such as solar, wind and biofuels (jatropha, sugarcane). India's huge thorium reserves about 25% of world's reserves are expected to fuel the country's ambitious nuclear energy program in the long-run. India's dwindling uranium reserves stagnated the growth of nuclear energy in the country for many years. However, the Indo-US nuclear deal has paved the way for India to import uranium from other countries.
Infrastructure
India has the world's third largest road network, covering more than 4.3 million kilometers and carrying 60% of freight and 87% of passenger traffic. Indian Railways is the fourth largest rail network in the world, with a track length of 114,500 kilometers.India has 13 major ports, handling a cargo volume of 850 million tonnes in 2010. India has a national teledensity rate of 74.15% with 926.53 million telephone subscribers, two-thirds of them in urban areas, but Internet use is rare, with around 13.3 million broadband lines in India in December 2011. However, this is growing and is expected to boom following the expansion of3G and wimax services.
Global trade relations

Until the liberalisation of 1991, India was largely and intentionally isolated from the world markets, to protect its economy and to achieve self-reliance. Foreign trade was subject to import tariffs, export taxes and quantitative restrictions, while foreign direct investment (FDI) was restricted by upperlimit equity participation, restrictions on technology transfer, export obligations and government approvals; these approvals were needed for
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nearly 60% of new FDI in the industrial sector. The restrictions ensured that FDI averaged only around $200 million annually between 1985 and 1991; a large percentage of the capital flows consisted of foreign aid, commercial borrowing and deposits of non-resident Indians. india's exports were stagnant for the first 15 years after independence, due to general neglect of trade policy by the government of that period. Imports in the same period, due to industrialisation being nascent, consisted predominantly of machinery, raw materials and consumer goods. Since liberalisation, the value of India's international trade has increased sharply, with the contribution of total trade in goods and services to the GDP rising from 16% in 199091 to 47% in 200810. India accounts for 1.44% of exports and 2.12% of imports for merchandise trade and 3.34% of exports and 3.31% of imports for commercial services trade worldwide. India's major trading partners are the European Union, China, the United States of America and the United Arab Emirates.[110] In 200607, major export commodities included engineering goods, petroleum products, chemicals and pharmaceuticals, gems and jewellery, textiles and garments, agricultural products, iron ore and other minerals. Major import commodities included crude oil and related products, machinery, electronic goods, gold and silver.[111] In November 2010, exports increased 22.3% year-on-year to 85,063 crore (US$16.97 billion), while imports were up 7.5% at 125,133 crore (US$24.96 billion). Trade deficit for the same month dropped from 46,865 crore (US$9.35 billion) in 2009 to 40,070 crore (US$7.99 billion) in 2010. India is a founding-member of General Agreement on Tariffs and Trade (GATT) since 1947 and its successor, the WTO. While participating actively in its general council meetings, India has been crucial in voicing the concerns of the developing world. For instance, India has continued its opposition to the inclusion of such matters as labour and environment issues and other non-tariff barriers to trade into the WTO policies.
Economy of US
The economy of the United States is the world's largest national economy. Its nominal GDP was estimated to be over $15 trillion in 2011,[ approximately a quarter of nominal global GDP. TheEuropean Union has a larger collective economy, but is not a single nation. Its GDP at purchasing power parity is the largest in the world, approximately a fifth of global GDP at purchasing power parity.[2]The U.S. economy also maintains a very high level of output. In 2011, it was estimated to have a per capita GDP (PPP) of $48,147, the 7th highest in the world, thus making U.S. one of the world's
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wealthiest nations The U.S. is the largest trading nation in the world. Its three largest trading partners as of 2010 are Canada, China and Mexico. The economy of the United States is a mixed economy. and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment. It has been the world's largest national economy (not including colonial empires) since at least the 1890s. Most of the economy is classified as services. As of 2012, the country remains the world's largest manufacturer, representing a fifth of the global manufacturing output. Of the world's 500 largest companies, 133 are headquartered in the United States. This is twice the total of any other country. About 60% of the global currency reserves have been invested in the United States dollar, while 24% have been invested in the euro. The country is one of the world's largest and most influential financial markets. Foreign investments made in the United States total almost $2.4 trillion, which is more than twice that of any other country. American investments in foreign countries total over $3.3 trillion, which is almost twice that of any other country] Total public and private debt was $50.2 trillion at the end of the first quarter of 2010, or 3.5 times GDP. The proportion of public debt was about 0.9 times the GDP. Domestic financial assets totaled $131 trillion and domestic financial liabilities totaled $106 trillion. As of 2010, the European Union as a whole was the largest trading partner of the U.S., whereas Canada, China, and Mexico were the largest individual trading nations. The labor market in the United States has attracted immigrants from all over the world and its net migration rate is among the highest in the world. The United States is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report and others.
History
The economic history of the United States has its roots in European settlements in the 16th, 17th, and 18th centuries. The American colonies went from marginally successful colonial economies to a small, independent farming economy, which in 1776 became the United States of America. In 180 years the United States grew to a huge, integrated, industrialized economy that still makes up over a quarter of the world economy.The main causes were a large unified market, a supportive political-legal system, vast areas of highly productive farmlands, vast natural resources (especially timber, coal and oil), a cultural landscape that valued entrepreneurship, a commitment to investing in material and human capital, and at times a
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willingness to exploit labor. In addition, the U.S. was able to utilize these resources due to a unique set of institutions designed to encourage utilization and extraction. As a result, the U.S.'s GDP per capita converged on and eventually surpassed that of the U.K., as well as other nations that it previously trailed economically. The economy has maintained high wages, attracting immigrants by the millions from all over the world. In the 19th century, recessions frequently coincided with financial crises. The Panic of 1837 was followed by a five-year depression, with the failure of banks and then-record-high unemployment levels. Because of the great changes in the economy over the centuries, it is difficult to compare the severity of modern recessions to early recessions. Recessions after World War II appear to have been less severe than earlier recessions, but the reasons for this are unclear. The Depression of 1893 was one of the worst in American history, with the unemployment rate exceeding 10% for half a decade.
World's largest economy

The United States has been the world's largest national economy since at least the 1890s. For many years following the Great Depression of the 1930s, when danger of recession appeared most serious, the government sought to strengthen the economy by spending heavily itself or cutting taxes so that consumers would spend more, and by fostering rapid growth in the money supply, which also encouraged more spending. Ideas about the best tools for stabilizing the economy changed substantially between the 1930s and the 1980s. From the New Deal era that began in 1933, to theGreat Society initiatives of the 1960s, national policy makers relied principally on fiscal policy to influence the economy. The approach, advanced by British economist John Maynard Keynes, gave elected officials a leading role in directing the economy, since spending and taxes are controlled by theU.S. President and the Congress. The "Baby Boom" saw a dramatic increase in fertility in the period 19421957; it was caused by delayed marriages and childbearing during depression years, a surge in prosperity, a demand for suburban single-family homes (as opposed to inner city apartments) and new optimism about the future. The boom crested about 1957, then slowly declined. A period of high inflation, interest rates and unemployment after 1973 weakened confidence in fiscal policy as a tool for regulating the overall pace of economic activity. The U.S. economy grew by an average of 3.8% from 1946 to 1973, while real median household income surged 74% (or 2.1% a year). The economy since
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1973, however, has been characterized by both slower growth (averaging 2.7%), and nearly stagnant living standards, with household incomes increasing by 10%, or only 0.3% annually.] The worst recession in recent decades, in terms of lost output, occurred during the 2008 financial crisis, when GDP fell by 5.0% from the spring of 2008 to the spring of 2009. Other significant recessions took place in 195758, when GDP fell 3.7%, following the 1973 oil crisis, with a 3.1% fall from late 1973 to early 1975, and in the 198182 recession, when GDP dropped by 2.9%.[33][34] Recent, mild recessions have included the 199091 downturn, when output fell by 1.3%, and the 2001 recession, in which GDP slid by 0.3%; the 2001 downturn lasted just eight months. The most vigorous, sustained periods of growth, on the other hand, took place from early 1961 to mid 1969, with an expansion of 53% (5.1% a year), from mid 1991 to late in 2000, at 43% (3.8% a year), and from late 1982 to mid 1990, at 37% (4% a year). In the 1970s and 1980s, it was popular in the U.S. to believe that Japan's economy would outgrow the United States, but the predictions failed.
Emerging countries catch up with the U.S.

Since the 1970s emerging countries have caught up with rich countries. These countries are learning to produce the same products and services that previously only the U.S. and a few other countries could produce. Real income growth in North America, Europe and Japan has been slower than previously. Since 1976, the US has sustained trade deficits with other nations, and since 1982, current account deficits; the nation's long-standing surplus in its trade in services was maintained, however, and reached US$140 billion yearly in 2008 and 2009. In recent years, the primary economic concerns have centered on: high household debt ($11 trillion, including $2.5 trillion in revolving debt), high net national debt ($9 trillion), high corporate debt ($9 trillion), high mortgage debt (over $15 trillion as of 2005 year-end), high unfunded Medicare liability ($30 trillion high unfunded Social Security liability ($12 trillion), high external debt (amount owed to foreign lenders), hightrade deficits, a serious deterioration in the United States net international investment position (NIIP) (24% of GDP), and high unemployment. In 2006, the U.S economy had its lowest saving rate since 1933. These issues have raised concerns among economists and national politicians.
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Comparison of Indian economy with US economy

India: Comparison Indian of economy vs. US, European Union , Canada, Japan and China
India is an emerging economy and comparison of Indian economy with other countries such as the US, European Union , Canada, Japanand China is needed to study international economy and business. People want to compare economies to make strategies. This article will help you understand better Indian markets, consumers, industries and overall growth picture of India in Comparison with US, EU, Canada, Japan, China and rest of the world. India is a large country having population of more than a billion, second highest in the world. It is also the largest democracy in the globe. GDP India is fourth highest in the world in PPP terms. Here is a comparison of Indian economy vs. the US, EU, Canada, Japan, China and rest of the world. Indian GDP ranks to No.12 in nominal term of world GDP after US, Japan, UK, Germany, China, France, Italy, Spain, Canada, Brazil and Russia. However, India ($3000B) comes to No.4 after US (America) (($13800B), China ($7000B) andJapan ($4300B) in PPP terms . India is a large economy. It has GDP of $1100 B (2007) or RS.55000 B. It is approximately two percent of the GDP of the world i.e. $55000 B. It does not tell the real story because world GDP is calculated based on US dollars. However, Indians have to buy, sell and spend in Indian rupee. Price parity parameter shows comparatively better picture. In PPP method, Indian GDP is calculated to $3000B that is approximately 4.7 percent of world GDP of $64000B in PPP.
Highest growth in stock market

More over India is growing at the rate of eight to nine percent per annum where as most of the developed countries including US, Canada, Japan and countries of EUand UK are growing at a very slow speed until last year. Only China has shown greater growth rate than India. Picture is little different this year. Most of the developed countries have started showing tendency of negative growth. This will surelyaffect India and China but they can manage their growth in a positive range. It is expected that China will manage a growth rate of eight to nine percent where as India will anywhere between seven to eight percent. India has achieved highest growth rate in stock market in the world. If we compare the stock markets of India and America since 9/11, we find fascinating facts. Dow Jones fell after 9/11 to 8235 on 21st September 2001. The BSE (India) also fell during those days to reach a low of 2595. Particular data for Shanghai (China) and Hangseng (Hong Kong) are not available to me (If anyone has the data, please inform me) but those were around 1400 and 11000 respectively. Dow Jones is trading at 8787 (While writing this hub Dec.
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09, 2008). If we compare it with the previous Dow Jones data (21 st sept.2001), it has gained mere 550 points over the period of more than seven years. Where as BSE India has traded at (on eighth Dec.2008, 9th market closed) 9162 level. It has jumped from 2595 to 9162, that is a gain of 6567 points or approximately 250 percent! Hangseng is 14753 and Shanghai is 2037 today. As I do not have actual data of 21 st Sept. of both these indexes it is not justified to calculate the gain but it is some thing around thirty to fifty percent. Dow has increased mere six percent in more than seven years and China and Hong Kong index has raised by thirty to fifty percent (roughly estimated) butIndian stock exchange index BSE has shown an amazing growth of more than two hundred fifty percent. Fifth highest foreign currency reserve in the world
India has fifth highest foreign reserve in the world.
currency
Foreign currency reserves ofChina, Japan, Russia,Taiwan andIndia were $ 1905, $997B, $485B, $282 B and $247 B respectively in 2007. This shows that Foreign currency reserve of India was the fifth highest in the world after that ofChina, Japan, Taiwan and Russia. The most interesting fact is that Indian foreign currency reserve had been increased 64 percent in comparison to 32 percent of Chinaand 57 of Russia, 9 of Japan and below 3 percent of Taiwan on year-to-year basis. It is worth mention that so called rich countries likes of the US, Canada, France and the UK are not in this list.
Composite economic scenario of India:

GDP India is twelfth largest economy in the world in nominal parameter but that does not show the real picture. GDP India represents the fourth largest economy in the world in price parity parameter (PPP). India has the second highest growth rate in the world after China. BSE stock index of India has grown at the fastest pace beating all stock indexes in the world including America, Canada, China, Japan and of course, all stock markets in European Union. India has no.1 growth rate among stock marketsin the world. N.B. Global recession also hitIndian economy during the last quarter of 2008. However, It has started regaining its ground. Indiahas successfully controlled its inflation problem. Indian auto sales up by 10 percent during the first quarter of 2009. It is continuing with its GDP growth. BSE sensex, that has tasted below 8000 during recession has crossed 12000 marks on 7th May 2009. The Sensex had crossed 18000 marks at the end of 2009 before com,ing down to 16K at presen
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India in Green Job sectore

India has announced carbon emissions cut voluntarily at Climate change conference in Copenhagen. This will be proved a major step towards clean energy sector. India is already generating wind power and hydro-electicity. Announcement of carbon emissions cut will push forward India in these sectors. Some of the major Indian industrialists have started making their industries green. Tata is one of them. This initiative will help growingenvironment friendly and energy efficient industries andbusinesses. India has started moving towards renewable sources of energy especially in solar energy and wind energy. Vast desert land in Thar area is ideal place to produce solar energy. Long coastal area viz a viz to desert are ideal places for producing wind energy. India is pioneer in recycling industry. Large numbers of Indian people are involved in recycling waste materials in unorganized sector. Some organized sector businesses have recently entered in to this business. Government incentives can boost this industry to sky height. India is growing organic food and other agricultural products in huge quantity. The country is also creating green forests and urban forests to fight global warming and climate change. Several urban cities authorities made water harvesting compulsory for new buildings. This government initiative is boosting water harvesting projects in urban areas. Government initiatives in rural areas will enhance these projects many folds. All these will make India pioneer in green industries. It will create large numbers of green collar jobs in India. Salary hike in India and other countries Salary hike in India is the highest in the world. Recent survey reports suggest that salary hikes in different countries are different. Comparison of salary hikes in India and other countries in the world are mentioned below. Japan remains the lowest with just half percent hike in salary. it is approximately one percent in Canada and two percent in New Zealand, Australia. Hong Kong andSingapore. The US, of course, have achieved up to 2.8 percent. Indonesia have achieved a salary hike up to nine percent and Vietnamis at the level of ten percent growth. However, India beats all countries in the world with eleven percent hike in salary. India is leading even in the recession period. Read more: Where and in which companies can you get your dream job? Read it before rushing to a white collar job Where most of the countries facing bank failures, India has not that much affected. Though some small banks also failed here no major bank is in
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crisis. Job loss ratio in India is also very low in comparison to other countries. It has growth rate over five percent so far. It is worth mention that India has achieved almost zero percent inflation rate (Year to year basis) where as most of the countries are either facing or in the brink of high inflation. India will lead internet and telecommunication India is showing amazing growth in internet connections and mobile phones. India is number two in mobile phone users in the world afterChina. It has surpassed the US long back. There are more than 650 million mobile users in India presently. More over, it is still increasing. India is showing tremendous growthin internet connections. India is adding more than five million users every month or more than sixty five million internet users every year. It is the highest growth rate in the world. It is expected that India will crossAmerica, the US in number ofinternet connections by the year 2013. Any of the European Union countries, Japan and Canada can not stand with India while it comes to numbers. It is well known fact that Indian IT professionals are the back bone of silicon valley. Number of websites are also increasing in India with the growth of internet connections. Indian IT companies are coming forward in web designing and software development.
Economy stats:
India vs United States
Indian Economy stats Business efficiency 59.053 Ranked 33rd. 100
American Economy stats
Ranked 1st. 69% more than India 3.2 Ranked 7th. 113% more than India 197.9 Ranked 1st. 93 times more than India
Economic freedom
1.5 Ranked 123rd.
Economic importance
2.1 Ranked 25th.
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INDIAN Economy vs US Economy GDP $4,164,000,000,000.00 Ranked 5th in 2006.
Sumanpreet kaur $13,060,000,000,000.00 Ranked 2nd in 2006. 2 times more than India 3.2 annual % Ranked 119th in 2005.
GDP growth > annual %
9.23 annual % Ranked 14th in 2005. 188% more than United States
GDP (per capita)
$3,751.99 per capita Ranked 121st in 2006.
$43,680.67 per capita Ranked 3rd in 2006. 11 times more than India $1,287.00 Ranked 5th. 142% more than India $4,096.00 Ranked 3rd. 6 times more than India $9,573.00 Ranked 1st. 15 times more than India $16,607.00 Ranked 2nd. 18 times more than India $11,628,083,000,000.00 Ranked 1st. 2 times more than India
GDP per capita in 1820
$531.00 Ranked 24th.
GDP > PPP
$3,362,960,000,000.00 Ranked 4th.
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Gross National Income
$477,000,000,000.00 Ranked 12th.
$9,780,000,000,000.00 Ranked 1st. 20 times more than India
Gross National $14.37 per $100 Income (per $ GDP) Ranked 160th.
$83.23 per $100 Ranked 20th. 5 times more than India 0.944 Ranked 10th. 57% more than India High income: OECD 1.8% Ranked 85th.
Human 0.602 Development Index Ranked 128th.
Income category
Low income
Income distribution 3.5% > Poorest 10% Ranked 22nd. 94% more than United States Income distribution 33.5% > Richest 10% Ranked 38th. 10% more than United States Technological achievement 0.2 Ranked 59th.
30.5% Ranked 54th.
0.73 Ranked 2nd. 3 times more than India
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Sumanpreet kaur
Education stats: India vs United States
Indian Education stats
American Education stats
Adjusted savings: education expenditure > % of GNI
3.99 % of GNI Ranked 88th in 2005.
4.79 % of GNI Ranked 59th in 2005. 20% more than India 12 Ranked 1st. 135% more than India 12 years Ranked 12th. 50% more than India 6 Ranked 83rd. 6 Ranked 109th. 20% more than India 16,611,711 Ranked 1st in 2002. 47% more than India
Average years of schooling of 5.1 adults Ranked 65th.
Duration of compulsory education
8 years Ranked 116th.
Duration of education > Primary level
6 Ranked 96th.
Duration of education > Secondary level
5 Ranked 164th.
Education enrolment by level 11,295,041 > Tertiary level Ranked 3rd in 2002.
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Sumanpreet kaur
Education spending (% of GDP)
4.1% Ranked 82nd.
5.7% Ranked 39th. 39% more than India 17.1% Ranked 38th. 35% more than India 48.7% Ranked 50th. 12% more than India 49% Ranked 92nd. 24% more than India 70.069
Education spending (% of total 12.7% government expenditure) Ranked 68th.
Female enrolment share > Primary level
43.6% Ranked 161st.
Female enrolment share > Secondary level
39.6% Ranked 152nd.
Geographical aptitude results 77.883
Ranked 96th. Ranked 17th. 11% more than United States Primary school girls out of school 39% Ranked 31st. Public spending on education, total > % of government 10.74 % expenditure Ranked 57th in 2003. 0% Ranked 96th.
15.25 %
Ranked 32nd in 2003. 42% more than India
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Sumanpreet kaur
Public spending per student > 7.2 Primary level Ranked 107th.
17.9 Ranked 36th. 149% more than India 14.21 Ranked 121st in 2004.
Pupil-teacher ratio, primary
40.2 Ranked 27th in 2004. 183% more than United States
Tertiary enrollment
10.5% Ranked 94th.
72.6% Ranked 1st. 6 times more than India 31 Ranked 1st. 15 times more than India 168 Ranked 1st. 55 times more than India 54
Universities > Top 100
2 Ranked 14th.
3 Ranked 26th.
INDIA USA relations

The two countries are worlds largest democracies. both committed to political freedom protected by representative government. India is also moving gradually towards greater economic freedom.
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Sumanpreet kaur
The US and INDIA have common interest in the free flow of commerce and resources including through the vital sea lanes of the Indian ocean.
They also share an interest infighting terrorism and creating strategically stable Asia
So it could be US and INDIA in future Not US vs INDIA!! ......................................................................................................................
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INDIAN Economy Vs

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