The different sectoral trends of Indian economy has been encouraging for the investors. The astronomical rise of the Indian industry across all verticals have facilitated the growth of Indian economy. The main contributors for the overall rise of the different sectoral trends of Indian economy has been the manufacturing and service industry. Today, India along with china is regarded as the manufacturing hub of the world. In the service sector India still holds dominating position in the world market.
Some key facts of the sectoral trends of Indian economy are discussed as below:
- India's economy grew at 9.3% in quarter April-June and it was driven by manufacturing, construction and services sector and agriculture sector
- GDP factor for the first quarter of 2007-08 was at Rs 7,23,132 crore, registering a growth rate of 9.3% over the corresponding quarter of previous year
- Manufacturing registered 11.9% growth
- The passenger vehicles sector grew by 11.61% during April-May 2007
- Electricity, gas & water supply performed well and recorded an impressive growth rate of 8.3%
- Construction growth rate rose to 10.7%
- Trade, hotels, transport and communication registered a growth rate of 12%
- Financing, insurance, real estate and business services recorded an impressive growth rate of at 11% during the 1st quarter of this fiscal
- Community, social and personal services maintained a decent growth rate of 7.6%
- The growth rate of agriculture, forestry & fishing' and 'mining & quarrying' are estimated at 3.8 per cent, and 3.2 per cent, respectively during the 1st quarter of 2007-2008
- Exports grew by 18.11% during the 1st quarter of 2007-2008 and the imports shoot up by 34.30% during the same period
- India's FOREX reserves (excluding Gold and SDRs) stood at $219.75 billion at the end of July ' 07
- The food sector is estimated to be of US$ 200 billion and it is expected to grow to $310 billion by 2015
- Stocks of food-grains grew by 13.1% to 17.73 million tonnes
- The annual inflation rate was 4.45% for the week ended July 28, 2007
- India's Balance of Payments is expected to remain comfortable
- Merchandise Exports recorded strong growth
According to reports, the productivity trends of different sectors of Indian economy and its subsequent growth is estimated to be around 8% and above until 2020. Further, at this rate, the Indian economy will become the second largest economy in the world after China. Further, the World Bank has ranked India as one of the top economic reformers worldwide. It simplified business registration, cross-border trade, and payment of taxes, eased access to credit and strengthen investor's interest. The sectoral trends of Indian economy indicates robust growth of Indian industries especially manufacturing, construction, and service industry.