India, a South Asian nation, is the seventh-largest country by area, the second-most populous country with over 1.38 billion people, and the most populous democracy in the world.
India boasts a rich cultural heritage, including many languages, traditions and peoples. The country derives its uniqueness from its diversity and has therefore adapted to international changes. While the economy has welcomed international companies to invest in it with open arms since liberalisation in the 1990s, Indians have been prudent and proactive in adopting global approaches and skills. Indian villagers have proudly taken up farming, advanced agriculture and unique handicrafts as their profession on one hand, while the modern industries and professional services sectors are coming up in a big way on the other.
Thus, the country is attracting many global majors for strategic investments owing to the presence of a vast range of industries, investment avenues and a supportive Government. A huge population, mostly comprising the youth, is a strong driver for demand and an ample source of manpower.
Demographic profile
- Population: 1,380,004,385
- Population Growth Rate: 0.99% (2020)
- Religions: Hinduism, Islam, Christianity, Sikhism, Buddhism, Jainism
- Languages: Hindi, English and at least 16 other official languages
- Literacy: 77.7%
- Male: 84.7%
- Female: 70.3%
- Life expectancy: 67.5 years (men), 69.8 years (women)
Economic profile
India’s gross domestic product (GDP) at current prices in 2021-22 is estimated to be US$ 2.96 trillion, as against US$ 2.48 trillion in 2020-21, showing a growth rate of 19.5%.
Gross value added (GVA) quarterly estimates at basic prices in the fourth quarter of 2021-22 at constant 2011-12 prices:
- Agriculture, forestry & fishing: US$ 71.2 billion
- Mining & Quarrying: US$ 12.39 billion
- Manufacturing: US$ 84.66 billion
- Electricity, gas, water supply & other utility services: US$ 9.85 billion
- Construction: US$ 42.34 billion
- Trade, hotels, transport, communications & services related to broadcasting: US$ 92.89 billion
- Financial, real estate & professional services: US$ 89.03 billion
- Public administration, defence & other services: US$ 61.82 billion
- Forex Reserves: US$ 580.25 billion, as of July 8, 2022
- Value of Export: US$ 189.93 billion (FY23)
- Export Partners: US, Germany, UAE, China, Japan, Thailand, Indonesia and the EU. India is also tapping newer markets in Africa and Latin America
- Currency (code): Indian rupee (Rs)
- Fiscal Year: April 01 – March 31
