India represents one sixth of the world and is today the third largest economy in terms of purchasing power parity. Even in terms of nominal exchange rate of the dollar, India is the sixth largest economy. It has grown at an average rate of 7% per annum for the past 40 years, growing from a size of $189 billion in 1980 to nearly $3 trillion today. This growth rate is about 2% lower than that of China over the same period but represents a higher rate of return when compared with the investment rate of the GDP. (Read More)
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