India the 7th largest country by area spreads in 3.28 million sq km i.e. 3,214 km from North to South and 2,933 km from East to West with Land of 2.97 million sq km and Water 0.31 million sq km. Second largest in terms of population 1.35 billion with a population growth rate of 1.08% as in 2019. In terms of demographics the average age of India in 2020 is 29 years with more than 50% of its population below the age of 25 and more than 65% below the age of 35 have a literacy rate of 74% as per the 2011 census data.
India is the 5th largest economy in the world in terms of nominal GDP at USD 2.93 trillion in terms of Nominal GDP-IMF Estimates 2019). The Gross Value Added (GVA) Composition by Sector are:
- Services Sector: 54.3% (Services for Financial, Professional, Communication and Real Estate, Trade, Hotel, transport, Public Administration, Defence & other Services)
- Industry Sector: 29.6% (Manufacturing, Construction, Mining & Utilities – Electric, Gas, Water & Others)
- Agriculture Sector: 16.14% (Agriculture, Forestry & Fishing)
The natural resources found are Coal (fourth-largest reserves in the world), petroleum, natural gas, Bauxite, Iron ore, Mica, Manganese, Diamonds, Gold and Limestone. Thus, making the key exported products as Petroleum products, Mineral fuels including oil, Gems, precious metals, Machinery including computers, Electrical machinery, equipment, chemicals, iron, steel, Organic and Pharmaceuticals products. The products being imported are Crude petroleum, gold, pearls, precious stones, petroleum products, Telecom instruments, electronic components, industrial machinery, electronic components, Animal/vegetable fats, oils, waxes, Plastics, plastic articles, and medical apparatus.
Connecting such a large country is herculean task and the infrastructure by the mode of transportation are:
- Air: 137 – Airports // 23 – International Airports // 20 – Civil enclaves
- Railways: Network of 115,000 km // Passenger Trains: 13452 // Freight Trains: 9141 // Railways Stations: 7,172 // Daily Travellers: 23 million
- It happens to the largest network in Asia and second largest in the world under single management. The full track length of Indian Railways can circle the equator 1.5 times.
- Roadways: Road Network: 4.87 million km (second largest in the world)
Indian roads carry about 65% of freight and 85% of passenger traffic. - Waterways: 14,500 km with major Ports as: Mumbai, Chennai, Kolkata, Haldia, Kandla, Ennore, Paradip, Tuticorin and Vishakhapatnam, Jawaharlal Nehru Port Trust, Kochi, Mormugao and New Mangalore.
The Fiscal Year in India commence on the 1st April and concludes on 31st March. The Foreign Exchange Reserves stands at US$ 481.922 billion as in March. 2020. The FDI Inflow in the country from April 2000 – June 2019 are from the countries Mauritius (32%) // Singapore (20%) // UK (6%) // Japan (7%) // Netherlands (7%) // USA (6%) and Germany (3%). The top ten largest export destinations of India are displayed in Fig. 1. The Major Sectors Attracting Highest FDI Equity Inflows for the same period are listed as:
Services – Sector (18%) Telecommunications (8%) Computer S/w & H/w (9.5%) Construction Development (6%) Automobile (5.8%) Trading (6%) Drugs and Pharmaceuticals (4%) Chemicals (4%) Power (3%) Construction Activities (4%).
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