Economy of India

The Economy of India is the tenth largest in the world by nominal GDP^[1] and the fourth largest by purchasing power parity (PPP).^[1] The country's per capita GDP (PPP) is $3,339 (IMF, 129th) in 2010.^[1] Following strong economic reforms from the post-independence socialist economy, the country's economic growth progressed at a rapid pace, as free market principles were initiated in 1991 for international competition and foreign investment.^[13] Despite fast economic growth India continues to face massive income inequalities, high unemployment and malnutrition.