Thread by @stockswithkavi

Indian economy-A mixed planned economy.

A Thread:

1. India's GDP is the 5th largest in the world by nominal #GDP and the 3rd largest by purchasing power parity.
India has been experiencing steady economic growth of 7-8% per annum until the COVID-19 pandemic hit in 2020, resulting in a contraction of -7.7% in 2020-21.

2. The Indian #economy comprises of major sectors such as agriculture, manufacturing and services, which together contribute more than 85% of the country's GDP.
Agriculture is a key sector in the Indian economy, contributing around 16% of the country's GDP.

The services sector is the largest sector in the Indian economy, contributing around 55% of the country's GDP.

The manufacturing sector is another major contributor to the Indian economy, accounting for around 17-18% of the country's GDP.

3. Banking and finance are crucial to the Indian economy,

The financial services industry contributed $809 billion (37% of GDP),and the banking sector contributed $407 billion (19% of GDP).

The Indian government has introduced financial inclusion initiatives like #PMJDY (प्रधानमंत्री जन धन योजना) and APY to provide banking and insurance services to underserved sections of the population.

4. Foreign direct investment (FDI) is a significant source of foreign investment in India, and the government has implemented policies to attract #FDI, such as allowing 100% FDI in many sectors and simplifying the approval process.

5. India is also known for its thriving startup ecosystem, with the country ranking third globally in terms of the number of unicorns (startups valued at over $1 billion).

Some of India's most successful #startups include Zerodha,Purplle and Physics Wallah which have all achieved unicorn status and have disrupted their respective industries.These startups have also inspired a new generation of entrepreneurs.

6. In these photos shed light on the various facets of the Indian economy.

7. India's economy holds massive potential for growth and development.