The economy of India is a developing mixed economy. It is the world’s seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capital GDP (nominal) with $2,134 and 122nd in per capital GDP (PPP) with $7,783 as of 2018. After the 1991 economic liberalization, India achieved 6-7% average GDP growth annually. Since 2014 with the exception of 2017, India’s economy has been the world’s fastest growing major economy, surpassing China.
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