Role of Indian Economy in Worlds Economy Dr. Saratkar Ajay Nanaji* Head Dept. of Economics, Yashwantrao Gudhe (Patil) Memorial Arts, Commerce and Science Mahavidyalaya, Jaytala, Hingna Road, Nagpur *saratkar.ajayrediffmail.com
Online published on 23 March, 2023. Abstract Indian economy got ahead of UK and France a few years ago. Compared to there countries, the average income of an Indian is very low. This fact also needs to be mentioned. It is also important to consider the purchasing power parity of people in different countries when comparing income. Work force equality is adjusted for the inflation rate. In terms of purchasing power, India's G. D. P. in 2021 is on third place after China and America. Britain was in ninth place. India's economy is transforming from a mixed planned economy to a mixed middle income developing social market economy. This is nominal G. D. P. It is the fifth largest economy in the world and the third largevt economy in terms of purchasing power parity. According to the International Monetary Fund, India ranks 142nd in terms of GDP per capita. From 2013 to 2018, India and China were the fartest growing major economies in the world. According to Purchasing Power Parity terms, India's share of the world economy ir 7.5%. India's growing globalization and integration into the global economy has been positive. Top Keywords Purchasing Power, Investment, Gross Domestic Product, Foreign Direct Investment, Ground Breaker, Mixed Economy, Per Capital Income. Top |