India is developing economy who said and why
Answers
Answer:
The United States (US) wants the Switzerland-based international trade body World Trade Organisation (WTO) to review the 'developing country' status of India and China, the two fastest growing economies in the world. Though both are the world's leading nation in terms of economic growth, the US claims they continue to enjoy special trade benefits that come with a 'developing country' tag.
The developing nations in question, India and China, have in turn flagged several key factors, including per capita income and human development indicators, where they are still lagging and are far behind than the developed countries like the US, Singapore, South Korea, Saudi Arabia, etc.
The economists are also divided over the issue, but many of them feel neighbouring countries like China, Singapore, South Korea, and Hong Kong are way ahead in economic prosperity than India, and that putting India on the same scale can't be justified. Let us first compare India's social and economic indicators with these rising Asian countries.
Social and economic indicators
As per the 2017 World Bank figures, the per capita national income in India was $1,800, while other countries like Singapore, South Korea, and China reported per capita national income of $54,530, $28,380, and $8,690, respectively, reported Financial Express. In terms of Human Development Index, India ranked at 103, while China, South Korea, Singapore, and the US rank at 86, 22, 9 and 13, respectively. While India had 21.2 per cent poor population (living on $1.90 a day as per 2011 purchasing power parity), China had 7.9 per cent population in the category, while Singapore and South Korea had almost negligible poor population. While India employed around 41.6 per cent of the population in agriculture, while China, South Korea, Singapore and the US had 16.4 per cent, 4.8 per cent, 0.1 per cent and 1.6 per cent population that depended on agriculture.
Answer:
ONE OF THE FUNDAMENTAL CHARACTERISTICS OF INDIA AS A DEVELOPING ECONOMY is that it majorily primary producing.
..
..
plzz mark me as brainliest as your sister...
thank for asking this question dear...