Economy of India: A Developing Mixed Economy mobi

This in an excerpt from this book
Indian economy is positioned as Sixth in terms of the nominal GDP and is considered as the third largest economy in terms of purchasing power parity (PPP). The years, 2015 and 2016 has played a vital role in Indian economic development as during this period Indian World Bank’s expansion and growth was observed. This was the major reason why economy developed to 7.6%. However, this growth diminished in 2017 to 7.1% but it is assumed that the growth rate will rise up to 7.2% in 2018 following 7.7% in 2019. Indian economy is mainly known for its service sectors as it has been one of the leading countries to export business process outsourcing (BPO) services and software services. India is also rich in agricultural sector employing thousands of people in agricultural fields and seeking a second position in the world in terms of farm output.