How has India's economy changed over time.

Question 1

Changes in agriculture:

Answer 1

large reduction in the contribution of agriculture from 37.2% to 14.5% of total GDP caused by rural-urban migration in the search of work

Question 2

Changes in services:

Answer 2

Rapid increase in the contribution of services from 45.8% to 67.1% leading to rising air pollution, increased population density in cities and widening development gap between urban and rural areas.

Question 3

Changes in manufacturing:

Answer 3

Small increase in the contribution of manufacturing from 16.9% to 18.4% leading to increases in employment opportunities and growth of GDP.

Question 4

Change in quaternary:

Answer 4

Rise in quaternary sector from 0% to 6.1% leading to increased investment from TNCs and over 1 million new ICT jobs created.

Question 5

what sector has India focuses on?

Answer 5

The service sector, particularly software and ICT services.

Question 6

change in tourist sector:

Answer 6

Rapidly growing with 22million tourists in 2014, in response GDP grew slowly in the 1950s, with more rapid growth in the 1990s.

Question 7

Economy growth statistics:

Answer 7

grown at a rate of 7%/yr for the past 20 years

Question 8

change in FDI

Answer 8

rose from 17,800million in 2005 to 34,400million in 2014

Question 9

Information about trade:

Answer 9

until 1990s India was relatively closed off to trade due to high tariffs on imports
India reduced the barriers on trade to become more integrated into the global economy meaning large increases in exports and imports.

Question 10

Key exports from India:

Answer 10

oil products, gems and jewelry

Question 11

Key imports of India:

Answer 11

crude oil, gold, silver, and electrical goods