Economic development in India Flashcards
What are some products India produces?
- Rice
- Concrete
- Cotton
- Metal
- Trains
What are India’s biggest to 3rd biggest contributors to the country’s GDP?
- Services
- Industry
- Agriculture
How much does India’s GDP grow per year?
7.6% per year ($600bn)
How long has India’s economy been rapidly growing?
The past 10-15 years
What percentage of India’s population lives below the poverty line?
20%
Where does India rank in the number of billionaires in the country?
4th in the world
What is one reason for India’s rapidly growing economy?
Large scale rural to urban migration
What is India’s film industry called?
Bollywood
What 5 products bring the most money to the indian economy? (in order)
- Petroleum ($61.2bn)
- Jewellery ($41.2bn)
- Cars ($14.5bn)
- Heavy machinery ($13.6bn)
- Bio chemicals ($12bn)
What industry employs most of India’s working population? (and what percentage)
50% of India’s working population are employed in the primary sector.
How much does India’s primary sector contribute to the country’s GDP?
Less than 20%
How does the primary sector employ 50% of India’s working population but only contributes 20% to India’s GDP?
- Low paid jobs
- Seasonal jobs
What percentage of India’s working population does the secondary sector employ?
20%
How much does India’s tertiary sector contribute to the country’s GDP?
55%
How did India switch it’s electronics industry?
- India used to import many of their electronics.
- Nowadays, India is exporting electronics on a large scale.
- India has the 3rd largest number of electronic engineers.
- Increased demand for electronics as India develops.