Question

what are the characteristics of Indian economy​

Answer 1

Answer:

The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity. According to the IMF, on a per capita income basis, India ranked 139th by GDP and 118th by GDP in 2018

Explanation:

hope it helpful to you and plzz mark me as brainlist ❤❤❤

Answer 2

Answer:

In order to understand the Indian Economic landscape, it is important to make note of some of the basic characteristics of India as a developing economy. These are as follows:

Low Per Capita Income (PCI)

According to the International Monetary Fund’s Report, in 2017, India’s PCI was $ 1983 and was ranked 140 out of 188 countries.

Further, according to the World Bank’s Report, in 2017, India’s PCI was $ 1940 and was ranked 138 out of 184 countries.

Therefore, we can conclude that the per capita income of an Indian resident is lower than most countries in the world.