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Economy of India

India, formally Republic of India, is a sovereign nation of South Asia. It is the ranked in the seventh spot in the list of largest nations by area and the second populous nation with an estimated population of more than 1.2 billion people, which makes India the biggest democracy all across the world. New Delhi is the capital of India while Mumbai is the largest city of the country. India has the fourth largest GDP in terms of purchasing power parity (PPP) with an estimated value of $4.962 trillion as of 2013. India is emerging as a country with solid and growing economic growth, however, smidgens of bygone autarkic policies remains a challenge for the nation. India is surrounded with industrial sectors and privatization of state-owned enterprises that are contributing in generating the revenues for the country. India has taken a control on its economic affairs by bringing foreign trade and investment into the country. The agriculture sector of the nation is also a prosper one. The major industries of India include textiles, chemicals, cement, mining, petroleum, machinery and pharmaceuticals. The period fiscal year of Hong Kong is from 1 April to 31 March.

Imports of India

With the estimated import value of $467.5 billion as of 2013, India is the twelfth largest importer of the world. India is a nation who believes to have minimal restrictions when it comes to import and export. The major import commodities of India include crude oil, precious stones, machinery, fertilizer, iron and chemicals. China, UAE, Saudi Arabia, Switzerland and United States of America are the major importer partners of company.

Exports of India

When it comes to exports, India is the 19th largest exporter of the world with an estimated export value of $313.2 billion as of 2013. The major exports commodities of the India include petroleum products, precious stones, steel, chemicals, automobiles and clothing. UAE receives high percentage of merchandise, and it is the major export partner of the nation, other key export partners include US, China, Singapore and Hong Kong.

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Capital
New Delhi
Dialing Code
+91
Fiscal Year
01 April - 31 March
Currency
Indian Rupee (INR)
GDP
$3,297,000,000,000
Exports
$298.2 billion (2011 est.) | Petroleum Products, Precious Stones, Machinery, Iron And Steel, Chemicals, Vehicles, Apparel
Imports
$451 billion (2011 est.) | Crude Oil, Precious Stones, Machinery, Fertilizer, Iron And Steel, Chemicals
Industries
Textiles, Chemicals, Food Processing, Steel, Transportation Equipment, Cement, Mining, Petroleum, Machinery, Software, Pharmaceuticals