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Gee Kim Online Econ 2 - Holzner Economic Map Project Data Economic Data for India: GDP: $4.

GDP: $4.06 trillion GDP per capita: $3,500 Growth Rate: 10.4% Unemployment Rate: 10.8% Population below poverty line: 25% Exports: $225.4 billion Imports: $359 billion National Debt: $238 billion

Economic Analysis: India is a Southern Asian country that borders the Arabian Sea and the Bay of Bengal, between Burma and Pakistan. Wit h India developing into an open-market economy, there has been economic liberalization, as well as industrial deregulat ion, privat izat ion of state-owned enterprises, and reduced controls o n foreign trade and invest ment. This served to accelerate the country's growth, averaging more than 7% per year since 1997. Wit h its large English-speaking populat ion, India has become a major exporter of informat io n technology services and software workers. Material exports, which account for about 15% of their GDP, consist of petroleum products, precious stones, machinery, iron, steel, chemicals, vehicles, and apparel. Indias imports include crude oil, precious stones, machinery, fert ilizer, iron, steel, and chemicals. In 2009, the monsoon and governments inefficient food distribut ion lead to Indias industrial expansion and high food prices, which fueled inflat ion at about 11% in the first half of 2010. Gradually, it decreased to the single digits due to a series of central bank interest rate hikes. The Indian Government will attempt to hold its budget deficit to 5.5% of GDP in fiscal year 2010-11, down from 6.8% in the previous fiscal year. Wit h its growing economy, India cont inues to face long term challenges of widespread povert y, poor physical and social infrastructure, limited non-agricultural employment opportunit ies, inadequate access to qualit y basic and higher educat ion, and assist ing with rural-to-urban migrat ion.