INDIA ECONOMY

INDIAN ECONOMY

• India has the 7th largest economy. Their economy is worth U.S $2.306 trillion One Indian Rupee equals 0.021 Australian Dollar
• India has a lop-sided wealth. The top 100 Wealthiest Indians are Billionaires, while in Rafiq Nagar, there is no clean water, no garbage pick up, no roads, no power apart from illegally strung haphazard cables and not a single toilet for the 10,000 people living there

SOCIAL SECURITY

• India has a very basic social security system catering to a fairly small percentage of the country’s workforce. Traditionally, Indians relied on their extended families for support in the event of illness or other misfortunes. However, due to migration, urbanisation, and higher social mobility, family bonds are less tight and family units much smaller than they used to be. So far, neither the state nor private insurance have quite stepped up to fill this gap.

IMPORT AND EXPORT

• India imports from China, United Arab Emirates (UAE), Saudi Arabia, The United States of America (USA), Switzerland, Iraq, Qatar, Kuwait, Germany and The United Kingdom (UK)
• India exports to the United Arab Emirates (UAE), Singapore, China, Saudi Arabia, Netherlands, The United Kingdom (UK), Germany and Brazil
• India's main imports are Petroleum Crude, Gold, Silver, Precious Stones, Non-Electrical Machinery, Organic Chemicals, Inorganic Chemicals, Coal, Brisquettes, Transport Equipment, Metalifferous Ores and Products, Iron and Steel.
• India's main exports are Petroleum Products, Gems, Jewellery, Pharma Products, Transport Equipment, Machinery and Instruments, Ready Made Garments, Manufactures of Metal, Electronics, Rubber, Glass and Products, Cotton, Yarn and Fabrics