Rural India accounts for around 50 per cent of India’s gross domestic product (GDP) and houses nearly 70 per cent of the country’s population. The market is a unique mix of burgeoning incomes and growing aspirations of around 850 million consumers who inhabit about 650,000 villages in the country.
India is amongst the top-ranking countries in the field of basic research. Indian Science is one of the most powerful segments for growth and development, especially in the emerging scenario and competitive economy.
India has a well-developed semiconductor design industry, with 120 design units and is ranked second among countries such as the US, the UK, Germany, Sweden, China, Taiwan and Israel in terms of design revenues.
The share of services in India’s GDP at factor cost (at current prices) rose from 33.3 per cent (1950–1951) to 56.5 per cent in 2012–13, as per advance estimates. During FY 2014–15, the sector is projected to grow at a healthy 5.6 per cent, according to National Council of Applied Economic Research (NCAER).
India has become the second best in terms of growth amongst the top ten steel producing countries in the world and a net exporter of steel during 2013–14. Steel production in India recorded a growth rate of 4.8 per cent in February 2014 over February 2013.
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