This thread I have created to give you guys ideas about the Export-Import market in India. There are many people are taking interest in Import-Export market of India due to which I have decided to give some descriptive knowledge about the same in this thread.
In 2008, the economy of India is the 12th in the world with a gross domestic product (GDP) of 2.0% and a population corresponding to 17.7% from that of the planet, according to the International Monetary Fund (IMF). By comparison, Canada's economy ranks 11th place, while Mexico is in 13th place. In 2007, the importance of sectors as a percentage of GDP is as follows:
- services (54.1%);
- production of goods, construction and utilities (27.7%);
- agriculture (18.2%).
Economic growth eased to the end of 2008, including the decline in consumption. The global economic slowdown has generated a surplus of stock, which has contributed to the decline in industrial production in the first quarter of 2009. However, growth has rebounded in the first two quarters of 2009, mainly due to the rapid fall in imports. The growth in consumption and investment remains subdued despite government measures (massive rise in public sector wages, lower tax rate on value added [VAT] and services tax applicable to the administration Central). Thus, economic growth was 6.1% in 2008 and is forecast the same growth in 2009.