write a paragraph on Indian economy
Answers
Answer:
India is mainly an agricultural economy. Around 50% of India’s workforce is involved in agricultural activities that contribute majorly to its economy. Agriculture does not just mean growing and selling of crops but also involves poultry, fishing, cattle rearing and animal husbandry among other similar activities. People in India earn their livelihood by indulging in many of these activities. These activities are vital for our economy.
The industrial sector comes next. Many industries have surfaced in our country ever since the industrial revolution. The industrial sector has especially seen a boom in the last few decades. We have large scale industries such as iron and steel industry, chemical industry, sugar industry, cement industry and shipbuilding industry that contribute a great deal to the country’s economy. We also have small scale industries such as clothe industry, plastic products industry, jute and paper industry, food processing industry and toy industry. Our small scale industries also give a good boost to the economy.
Apart from this, we have service sector which is another contributor to the Indian economy. This sector includes the banking sector, hotel industry, telecom sector, insurance sector, transport sector and more. Professionals such as engineers, doctors and teachers also come under this sector.
All three sectors have skilled labourers/professionals who have been working hard to build the country’s economy.
Answer:
Indian economy has seen a major growth in the last few decades. The credit for this boom largely goes to the service sector. Agriculture and associated activities have also been improvised to match the global standards and the export of various food products has seen an upward trend thereby adding to the economic growth. The industrial sector does not lag behind a bit. A number of new large scale as well as small scale industries have been set up in the recent times and these have also proved to have a positive impact on the Indian economy...
Economic Growth of India in Recent Times
During the last year, India suffered from inflation due to the rise in the prices of food items. However, it is recovering from the loss and the economic condition is likely to improve this year.
The Central Statistics Organisation (CSO) has recognized India as one of the fastest growing economy. It has been estimated that if we continue to grow at this rate, we would likely become one of the top three economic powers in the world over the next decade or two...
Factors Aiding Economic Growth
Here are some of the factors responsible for India’s economic growth:
The Foreign Direct Investment (FDI) has increased for many sectors including automobiles, construction and computer software.
The employment opportunities in many sectors including IT and transport have increased.
The number of start ups in India is growing and thus creating more business and employment opportunities.
The industrial sector of the country is prospering. The merchandise exports and imports of India are growing at a good rate.
Conclusion
We have a pool of talented and creative youths who are hard working and ambitious. Our government is also taking initiatives to improve the economic condition of the country by bringing in new opportunities for employment and business. No wonder, our economy is growing at a good pace.....
✌✌✌✌✌✌✌