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.
What are TNC’s
- Transnational companies.
Why are TNC’s good?
- Help encourage development in developing nations.
- Encourage trade with other nations.
What is one of the biggest TNC’s in india?
Tata
What percentage of India’s GDP comes from Tata?
2.8%
What industries is Tata in?
- Cars
- Internet communciations
- Chemicals
- Energy
What is a significant product from Tata for the Indian population? (why is it important)
- The ‘nano’ car
- Costs less than £1300
- Targeted at India’s growing middle class
- Will be able to produce 250,000 units per year
Why is the ‘nano’ car bad?
- Increases air pollution
- Increases traffic congestion
What are the advantages of TNC’s in India?
- Bring new investment to the country.
- Provide jobs (often at higher than average wages in the local economy).
- International links.
- Bring expertise and skills to the country.
- provide new technology.
What are the disadvantages of TNC’s in India?
- Wages in LIC’s and NEE’s are usually lower than those in HIC’s.
- Can cause environmental damage and deplete natural resources.
- TNC’s can withdraw their investment from a country whenever they want.
- Take profits out of the county to pay shareholders and invest elsewhere.
- Powerful enough to influence politics in a country.