The economy of India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable state participation in strategic sectors. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), on a per capita income basis, India ranked 139th by GDP (nominal) and 127th by GDP (PPP). From independence in 1947 until 1991, successive governments followed Soviet style planned economy and promoted protectionist economic policies, with extensive state intervention and economic regulation. This is characterised as dirigism, in the form of the License Raj. The end of the Cold War and an acute balance of payments crisis in 1991 led to the adoption of a broad economic liberalisation in India. Since the start of the 21st century, annual average GDP growth has been 6% to 7%. The economy of the Indian subcontinent was the largest in the world for most of recorded history up until the onset of colonialism in early 19th century. India account for 7.2% of global economy in 2022 in PPP terms, and around 3.4% in nominal terms in 2022.
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021. India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. It is also the largest vaccine supplier in the world by volume, accounting for more than 50% of all vaccines manufactured in the world. With industry standards compliant mega production capabilities and large number of skilled domestic workforce, Indian exports meet the standards and requirements of highly regulated markets of USA, UK, European Union and Canada. According to the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, domestic pharmaceutical market turnover reached Rs 129,015 crore in 2018, growing 9.4 per cent year-on-year and exports revenue was US$17.28 billion in FY18 and US$19.14 billion in FY19.
Brand world India is a phrase used to describe the campaign India is using to attract business. Basically the campaign is to project the attractiveness of India as an emerging destination for business in the fields of service sector, manufacturing, information technology, infrastructure, information technology enabled services, etc. The campaign uses both India as market for products and services as well as a destination for investment. The federal government is spearheading the campaign.
The Federation of Indian Chambers of Commerce & Industry (FICCI) is a non-governmental trade association and advocacy group based in India. Mr.Subhrakant, Managing Director, Indian Metals & Ferro Alloys Ltd has today taken over as FICCI President for 2022-2023, from Mr Sanjiv Mehta at the apex chamber's 95th Annual Convention held in New Delhi.
The economy of Thiruvananthapuram, capital of the Indian state of Kerala, mostly consists of tourism and leisure, information technology, rubber plantations, coffee production, tea production, and education. There are many manufacturers, such as Travancore Titanium Products Ltd and English Indian Clays.
Suresh Prabhakar Prabhu is an Indian politician, and Chancellor of Rishihood University who was the Minister of Civil Aviation, Railways, Commerce & Industry in the First Modi ministry.
Karnataka is one of the highest economic growth states in India with an expected GSDP growth of 9.5% in the 2021–22 fiscal year. The total expected GSDP of Karnataka in 2022–2023 is about $240 billion. Karnataka recorded the highest growth rates in terms of GDP and per capita GDP in the last decade compared to other states. In 2008–09, the tertiary sector contributed the most to GSDP, followed by the secondary sector, and the primary sector.
Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) in more than 100 countries across the globe. It is the largest pharmaceutical company in India and the fourth largest specialty generic pharmaceutical company in the world. The products cater to a vast range of therapeutic segments covering psychiatry, anti-infectives, neurology, cardiology, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynaecology, respiratory, oncology, dental and nutritionals. Its active pharmaceutical products include baricitinib, brivaracetam, and dapaglifozin.
The economy of Gujarat, a state in Western India, has significant agricultural as well as industrial production within India. Major agricultural produce of the state includes cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2015, with 1.2% of the labour force being unemployed.
Uttarakhand's gross state domestic product for 2004 is estimated at $6 billion in current prices. Born out of partition of Uttar Pradesh, the new state of Uttarakhand produces about 8% of the output of the old Uttar Pradesh state.
The textile industry in India traditionally, after agriculture, is the only industry that has generated huge employment for both skilled and unskilled labour. The textile industry continues to be the second-largest employment generating sector in India. It offers direct employment to over 35 million people in the country. India is the world's second largest exporter of textiles and clothing, and in the fiscal year 2022, the exports stood at US$ 44.4 billion. According to the Ministry of Textiles, the share of textiles in total exports during April–July 2010 was 11.04%. During 2009–2010, the Indian textile industry was pegged at US$55 billion, 64% of which services domestic demand. In 2010, there were 2,500 textile weaving factories and 4,135 textile finishing factories in all of India. According to AT Kearney’s ‘Retail Apparel Index’, India was ranked as the fourth most promising market for apparel retailers in 2009.
Madras Export Processing Zone (MEPZ) is a special economic zone in Chennai, India. It is one of the seven export processing zones in the country set up by the central government. It was established in 1984 to promote foreign direct investment, enhance foreign exchange earnings, and create greater employment opportunities in the region.
Kallam Satish Reddy is an Indian business executive and current Chairman of Dr. Reddy's Laboratories. Reddy joined Dr. Reddy's Laboratories in 1993 as executive director. Elevated to the role of Managing Director in 1997, he led the company's transition from a manufacturer of active pharmaceutical ingredients to one with a diverse product portfolio of finished dosage formulations. Reddy was also responsible for establishing a strong footprint of Dr. Reddy's finished dosage products in Russia, CIS countries and other emerging markets.
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans". FDI is the sum of equity capital, long-term capital, and short-term capital as shown in the balance of payments. FDI usually involves participation in management, joint-venture, transfer of technology and expertise. Stock of FDI is the net cumulative FDI for any given period. Direct investment excludes investment through purchase of shares.
Gem & Jewellery Export Promotion Council (GJEPC) is an organisation set up by the Government of India (GOI) with aim to promote the Indian gem and jewellery industry and its products.
Financial technology is an industry composed of companies that use technology to offer financial services. These companies operate in insurance, asset management and payment, and numerous other industries. FinTech has emerged as a relatively new industry in India in past few years. The Indian market has witnessed massive investments in various sectors adopting FinTech, which has been driven partly by the robust and effective government reforms that are pushing the country towards a digital economy. It has also been aided by the growing internet and smartphone penetration, leading to the adoption of digital technologies and rise of FinTech in the country
Alembic Pharmaceuticals Ltd. is an Indian multinational pharmaceutical company headquartered in Vadodara. It is involved in manufacture of pharmaceutical products, pharmaceutical substances and intermediates. It is also termed to be a market leader in macrolides segment of anti-infective drugs in India.
The chemical industry of India is a major industry in the Indian economy and as of 2022, contributes 7% of the country's Gross Domestic Product (GDP). India is the world's sixth largest producer of chemicals and the third largest in Asia, as of 2022. The value of the Indian chemical industry was estimated at $100 billion dollars in 2019. The chemical industry of India generates employment for five million people. The Indian chemical industry produces 80,000 different chemical products. India was also the third largest producer of plastic in 2019. As of September 2019, the alkali chemical industry produced 71% of all chemicals produced in India. India's chemical industry accounts about 14% of production in Indian industries.
The Pharmaceutical industry in Gujarat ranks number one in India with a 33% share in drug manufacturing and 28% share in drug exports. The state has 130 USFDA certified drug manufacturing facilities. Ahmedabad and Vadodara are considered as pharmaceutical hubs as there are many big and small pharma companies established in these cities.
