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• One estimate says that only one in five job-seekers has had
any sort of vocational training. The labor force totals
half a billion workers.
• India is the second fastest growing economy in the world with 7.1 per cent
GDP expansion in 2008-09
• In 2007, India's GDP was $1.237 trillion, which makes it the twelfth-
largest economy in the world or fourth largest by purchasing power
adjusted exchange rates.
• The growth drivers for the period were agriculture, services, manufacturing
along with trade and construction.
• The manufacturing sector recorded a growth of 9.5 per cent per annum in
the period 2004-05 to 2007-08.
GDP Figures
Year GDP %
1997 - 1998 4 . 315
1998 - 1999 6 . 768
1999 - 2000 6 . 45
2000 - 2001 4 . 49
2001 - 2002 5 . 753
2002 - 2003 3 . 943
2003 - 2004 8 . 46
2004 - 2005 7 . 475
2005 - 2006 9 . 358
2006 - 2007 9 . 635
US GDP
• As of 2007, US GDP (purchasing power parity) was $13.78
trillion. US GDP (official exchange rate) was about $13.84
trillion.
133. Lao People's 128. Lao People's 119. Rwanda (64.9) 135. Nepal (60.8) 127. Nicaragua
Democratic Republic Democratic Republic (2,441)
(0.608) (63.7)
134. Solomon Islands 129. Mauritania 120. Ghana (64.2) 136. Swaziland 128. Moldova
(0.591) (63.6) (60.1) (2,396)
179. Sierra Leone 179. Swaziland 147. Mali (22.9) 179. Djibouti (25.5) 178. Congo
(0.329) (40.2) (Democratic
Republic of the)
(281)
able 1: United States's human development index 2006 and underlying indicators in comparison with
selected countries.
HDI value Life expectancy at birth Combined primary, GDP per capita
2006 (years) secondary and tertiary (PPP US$)
2006 gross enrolment ratio 2006
(%)
2006
13. Denmark (0.952) 29. Korea (Republic of) 18. Sweden (94.3) 6. Singapore (47,426)
(78.2)
14. Austria (0.951) 30. Denmark (78.1) 19. Slovenia (92.8) 7. Kuwait (46,638)
15. United States 31. United States 20. United States 8. United States
(0.950) (78.0) (92.4) (43,968)
16. Spain (0.949) 32. Cuba (77.9) 21. Lithuania (92.3) 9. Ireland (40,823)
17. Belgium (0.948) 33. Portugal (77.9) 22. Italy (91.8) 10. Hong Kong, China
(SAR) (39,146)
179. Sierra Leone (0.329) 179. Swaziland (40.2) 179. Djibouti (25.5) 178. Congo (Democratic
Republic of the) (281)
INDIA V/S US –
EXPORT AND IMPORTS
INDIA’S IMPORTS/EXPORTS
• 26th largest export economy in the world
• The service sector makes up a further 28%, and industrial sector around
12%.
• Major agricultural products include rice, wheat, oilseed, cotton, jute, tea,
sugarcane, potatoes, cattle, water buffalo, sheep, goats, poultry and
fish.
• India is the largest producer in the world of milk, cashew nuts, coconuts,
tea, ginger, turmeric and black pepper.
Year Growth %
1992-99 6.30%
1999-2000 4.20%
2000-01 6.70%
2001-02 2.80%
2002-08 9.50%
Indian Services growth
§The software industry was one of the fastest growing sectors in the last
decade with a compound annual growth rate exceeding 50 per cent.
• Over the past two decades, the services sector has created
almost 40 million new jobs across the full range of
services: software engineers, nurses, mortgage
specialists, lawyers, instructors, mutual fund managers,
film and television technicians, insurance agents, tour
operators, and many others.
• The IT sector is India’s fastest growing sectors with over 50 percent average
annual compounded growth since 1991. Today, nearly two in five of the
Fortune 500 companies outsource their software requirements to India.
• Abundant investment opportunities exist for further strengthening Indo-US
economic ties in the IT sector, especially, in areas like communication
infrastructure, satellite-based communication wireless, IT-enabled
services, and so on
• Defense cooperation between Indian and American armed forces builds
military capacities on both sides for combined operations.
•
• With about 20 million people entering the middle class, India's growth is in
the domestic market. India is not merely an exporter but a big importer.
India presents a huge market opportunity to other countries.