Author Name: Anurag Bhullar

Over the recent years, the Indian economy has emerged as a star in the global economy. The world economy has witnessed the Indian economy surging ahead overcoming all the obstacles and breaking the barriers. During the year 2007, the growth of this dynamic economy was measured to be 9.2 percent. The reasons behind the rapid growth of the Indian economy are the markets reforms supported by huge FDI inflows, tremendous rise in the foreign exchange reserves. In addition to this, the boom in the IT sector and the real estate also flourished the capital market. To study the overview of the Indian economy, have a glance at the various segments of this blooming economy.

* There was a rise of about 300.01 billion USD, seen in the foreign exchange reserve of the nation on August’ 2008. * The Foreign Institutional Investors were found to be 16.1 billion USD in the year 2007-08. * The inflows of the Foreign Direct Investment to the Indian economy stood to 3.93 billion USD for the month of June ’08. * In the Indian economy, the industrial production and manufacturing sectors grew significantly by 8.5 per cent and 8.8 percent respectively during 2007-08. * The food grain production increased to 227 million tonnes by 2007-08, showing a growth of 10-12 million tonnes. * The service sector of the economy was estimated to have attained a growth of 10.8 percent in 2007-08.

* The hotels, transport, trade and communication segment of the Indian economy grew by 12 percent. * The finance, real estate, insurance and business service sectors grew at the rate of 11.8 percent. * Last but not the least, the exports and the imports amounted to 14.6 billion USD and 24.4 billion USD respectively in the month of June’08. Thus, the growth process of the Indian economy is still in continuation and aims to bring in some drastic changes to uplift the society and raise the standard of living of its people.