Knowra Economy of India Economy of India The economic system and activity of India, spanning agriculture, industry, services, trade, employment, and public finance. It combines a large domestic market with substantial regional and sectoral variation.
Agriculture in India : The cultivation of crops and raising of livestock across India’s varied climates and farming systems. Agriculture supports rural livelihoods and food supply, despite its declining share of national output.
Economic liberalisation in India : Policy changes that reduced state controls and opened India’s economy to greater private and foreign participation, especially from 1991. The reforms reshaped competition, trade, investment, and the role of the state.
Colonial economy of India : The economic system of the Indian subcontinent under British colonial rule, marked by imperial trade and changes to production and taxation. Colonial institutions and trade patterns shaped the economy inherited at independence.
Information technology in India : India’s information-technology industry, including software services, business-process outsourcing, and technology products. Export-oriented IT services became a prominent source of growth, jobs, and foreign exchange.
Poverty in India : The condition of lacking sufficient income or resources to meet basic needs, measured in India using varying national and international standards. Economic growth has reduced poverty, but estimates and the pace of progress remain contested.
Service economy of India : The part of India’s economy producing services such as information technology, finance, transport, and retail. Services account for the largest share of output and include globally competitive industries.
Goods and Services Tax (India) : India’s value-added indirect tax, introduced in 2017, that replaced many central and state levies on goods and services. GST altered the taxation of supply chains crossing state boundaries.
Economic planning in India : The use of national plans and public institutions to guide India’s investment and development after independence. Planning established a mixed economy with a major role for state-owned enterprises and controls.
Foreign trade of India : India’s imports and exports of goods and services, shaped by domestic demand and international trade relationships. Trade links Indian producers and consumers to global supply chains and markets.
Income inequality in India : The unequal distribution of income among individuals and households in India. Uneven gains from growth affect opportunity, consumption, and the interpretation of headline output figures.
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