US – India Business Summit, 2006April 12, 2023 1

Indian Economy – A Snapshot

One of the fastest growing in the world

Consumption growth fuelling economic growth – consumption

expenditure forming 78% of GDP

Services sector contributing over 60% to GDP

Emerging as a hub of manufacturing excellence. new growth

engines of Indian economy include IT, ITes, pharmaceuticals, bio-

technology, nano technology, agri. businesses

Where forces of competition are at work

Innovation driving enterprises

Economic reforms well on course – entering second phase