Introduction to GDP Growth
The figure shows real GDP growth in India from 2015 to 2020, by guesses until 2025. GDP refers to the total market value of all goods and services produced in each country per year. It is an important indicator of the country's economic strength. Real GDP is adjusted for price fluctuations and is therefore considered an important indicator of economic growth.
India's real GDP growth was almost - 10.29% by 2020 compared to last year. Global Gross Domestic Product (GDP) Growth in India Over the past few years have seen a shift in economic power and focus on the strong BRIC countries: Brazil, Russia, India and China. The rate of GDP growth in BRIC countries is traditionally higher than in strong economies such as the United States and Germany. While the United States could claim the world's largest economy by any means, China joins Japan's third-place race and India ranks second in terms of the world's largest GDP.
Despite the global economic downturn in 2008 and 2009, India is still able to record impressive GDP growth, especially when most people in the world report negative growth for at least a year. The reason for India's success was the economic liberation that began in 1991, which later encouraged trade, ending some colonial rule. GDP growth has been slow over the years as inflation has risen sharply. India's workforce is expanding in the industrial and service sectors, growing in part due to exports - a lucrative business for the Indian economy. India's agricultural sector is still the world power, producing more wheat or tea than anyone in the world except China. However, with multi-process equipment and a rapidly growing population, the unemployment rate in India is very high.
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