Question

write a paragraph on Indian economy ​

Answer 1

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The Indian economy is diverse and embraces a huge area including agriculture, mining, textile industry, manufacturer and a vast area of other services. There is an enormous shift from what the economy used to be in the distant past.

Indian economy is the third largest in the world, as measured by (PPP). Till today, two thirds of the population depends on agriculture directly or indirectly. Indian economy is somewhat socialistic in its approach but presently India is running with other capitalist country.

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Answer 2

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.

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