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India - Country Profile

IIndia is the second most populous country in the world and the world's 11th largest economy in terms of GDP. Its economy is mainly based on services, which contribute to more than half of the GDP, thanks to the Software and the New Information Technologies (NIT) sectors. Industry accounts for 28% of GDP, led by the textile and chemical industry sectors. India is also the world's fourth agricultural power. Agriculture contributes to about 20% of GDP and employs close to two-thirds of the active population. For more information, you can consult the last report of the Federation of Indian Chambers of Commerce and Industry on the Current state of Indian Economy. Thanks to advantages such as a high rate of specialization in services, a skilled English-speaking labor force, a potential market of one billion inhabitants and incentives (tax holidays, tax concessions, Special Economic Zones (SEZs), bilateral investment protection), India is attracting more and more foreign investment, especially in the service sector (21% of the total of FDI) and the computer software & hardware sector (9%). For more information, consult the India Finance and Investment Guide from the Foreign Investment Promotion Board


Economic Statistics
Exports : $69.18 billion f.o.b. (2004 est.)
Export
Commodities :
textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures
Export
Partner
US 17%, UAE 8.8%, China 5.5%, Hong Kong 4.7%, UK 4.5%, Singapore 4.5% (2004)
Imports $89.33 billion f.o.b. (2004 est.)
Import
Commodities :
crude oil, machinery, gems, fertilizer, chemicals
Imports
Partners :
China 6.1%, US 6%, Switzerland 5.2%, Belgium 4.4% (2004)