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However, by the end of British rule, India's economy represented a much smaller proportion of global GDP. In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. India's per-capita income remained mostly stagnant during the Raj, with most of its GDP growth coming from an expanding population. Per capita ...
The economic history of the India since 1947 can be divided into two epochs: 1.1947-91 which saw heavy government involvement in the economy, and a slow growth rate in GDP 2.1991–present which saw deregulation and a rapid growth in GDP, and reduction in poverty.
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
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). [62]
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
The economic de-industrialisation of India refers to a period of studied reduction in industrial based activities within the Indian economy from 1757 to 1947. The Indian economy was controlled under the rule of the British East India Company from 1757 to 1858.
This is an accepted version of this page This is the latest accepted revision, reviewed on 6 January 2025. Integrated Schematic National Programs for Economic Development The article's lead section may need to be rewritten. Please help improve the lead and read the lead layout guide. (December 2021) (Learn how and when to remove this message) From 1947 to 2017, the Indian economy was premised ...
Pages in category "Economic history of India (1947–present)" The following 36 pages are in this category, out of 36 total. This list may not reflect recent changes .