what kind of economy does the india have
Economy of India The economy of India is a developing mixed economy.[35] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capita GDP (nominal) with $2,134 and 122nd in per capita GDP (PPP) with $7,783 as of 2018.[36][37] After 1991 economic liberalisation, India achieved 6-7% average GDP growth annually. In FY 2015 and 2018 India's economy became the world's fastest growing major economy, surpassing China.[38]
South Asia India is the largest & fastest growing economy in the region (US$2.180 trillion) and makes up almost 82% of the South Asian economy; it is the world's 7th largest in nominal terms and 3rd largest by purchasing power adjusted exchange rates (US$8.020 trillion).[217] India is the only member of powerful G-20 major economies and BRICS from the region. It is the fastest growing major economy in the world and one of the world's fastest registering a growth of 7.3% in FY 2014â€“15. Pakistan has the next largest economy($250 billion) and the 5th highest GDP per capita in the region,[218] followed by Bangladesh and then by Sri Lanka which has the 2nd highest per capita and is the 4th largest economy in the region. According to a World Bank report in 2015, driven by a strong expansion in India, coupled with favorable oil prices, from the last quarter of 2014 South Asia become the fastest-growing region in the world[219]