Relative Position of on Indian Economy
(This discussion is suitable for a particular period only, there may be changes afterwards)
· According to International Monetary Fund, World Economic Outlook (Ocoter- 2016), GDP (nominal) of India in 2016 at current prices was $2,251 billion. India contributed 2.99% of total world’s GDP in exchange rate basis. India shared 17.5 percent of the total world population and 2.4 percent of the world surface area. India was now 7th largest economy of the world in 2016.
· India was at 3rd position after China and Japan among Asian countries. India shared 8.50% of total Asia’s GDP (nominal) in 2016.