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The economic contribution of agriculture to India's GDP is steadily declining with the country's broad-based economic growth. Still, agriculture is demographically the broadest economic sector and plays a significant role in the overall socio-economic fabric of India. The total agriculture commodities export was US$3.50 billion in March - June ...
Nominal GDP sector composition (2005 constant prices) [ edit ] Nominal GDP sector composition, 2015 (in millions of 2005 USD ): [ 5 ] [ 6 ] 2005 prices are used similarly to 2010 constant prices in which they provide economic statistics where inflation is accounted for.
Besides, in India, the agricultural is vital for the economy because it accounts for 44.5% of GDP [4] from 1970 to 1971 and offers 68% of rural employment. However, the agriculture sector shrunk to 16.1% of GDP in 2009 while the proportion of non-agricultural industry achieved 86% of the GDP. [5]
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...
Historically, India has classified and tracked its economy and GDP in three sectors: agriculture, industry, and services. Agriculture includes crops, horticulture, milk and animal husbandry, aquaculture, fishing, sericulture, aviculture, forestry, and related activities. [71] [72] Although Maharashtra is a highly industrialized state of India ...
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 125th by GDP (PPP). [58]
It is the India's sixth-largest economy by nominal GDP. West Bengal is the primary business and financial hub of Eastern India. The state is primarily dependent on agriculture and medium-sized industry. West Bengal has jute and tea industry. West Bengal is rich in minerals like coal, limestone, iron ore, copper, lead and zinc.
It is largely service-based, with a significant share of agricultural and industrial sectors. The GDP of the state was ₹9,76,514 crores (US$120 billion) at the current market price (2024–25). [10] This state also has a small industrial sector. As of 2021, agriculture accounts for 24%, industry 15% and service 61% of the economy of the state ...