One of the most important reasons why indias economy remains relatively insulated from global slowdowns is that
Answers
India, A Country of 1.24 billion people, 31.6 lakh sqkm of area which has geographically and bureaucratically subdivided into 28 states & 7 union territory, it's the second largest in human population and 7th largest by geographical expansion withGDP of $4.684 trillion(PPP), we might assume that country would definitely possess high demand of basic needs, services and else for better livelihood of residents, generated demand of every segment has been considerably fulfilled by its in-house resources like agriculture, mining, industrial output etc. and remaining need to fulfill through international sources which made it a very progressive and demanding industry. there are some major parameter which has influenced economy,
governance & government monetary/legal policy related to industries/production/trade
GDP as well as demand supply gap, consumption of goods & services per capita against production
population and its growth trend
International trading pattern and international relationship
currency valuation in international market
India, among the top 10 economy of the world, contributing big chunk in international trade volume. since its industrial production, service industry and agricultural industry improving day by day which supports GDP to move in rapid pace and it comes through their human resource but at the same time the very human resource is also responsible for increased consumption of available goods and resources to produce gap in demand and supply, since inception it was observed that agricultural and industrial production play major role in GDP of India and strengthen its economy but with due time share of contribution of sectors will also subject to change in GDP, earlier agricultural output contributing approx 50% & 20% is of service sector contribution but now scenario has been tend to act opposite that is 50% contribution is of service sector and 15-20% contribution of agricultural output in GDP, which also symbolize that Indian economy could depend/influenced by others to whom we provide services or importing goods.