Despite economic growth during recent decades, India continues to face socio-economic challenges. In 2006, India contained the largest number of people living below the World Bank's international poverty line of US$1.25 per day. The proportion decreased from 60% in 1981 to 42% in 2005. Under the World Bank's later revised poverty line, it was 21% in 2011. 30.7% of India's children under the age of five are underweight. According to a Food and Agriculture Organization report in 2015, 15% of the population is undernourished. The Mid-Day Meal Scheme attempts to lower these rates.
Since the end of the Cold War, India has increased its economic, strategic, and military co-operation with the United States and the European Union. In 2008, a civilian nuclear agreement was signed between India and the United States. Although India possessed nuclear weapons at the time and was not a party to the Nuclear Non-Proliferation Treaty, it received waivers from the International Atomic Energy Agency and the Nuclear Suppliers Group, ending earlier restrictions on India's nuclear technology and commerce. As a consequence, India became the sixth de facto nuclear weapons state. India subsequently signed co-operation agreements involving civilian nuclear energy with Russia, France, the United Kingdom, and Canada.
More InfoDriven by growth, India's nominal GDP per capita increased steadily from US$329 in 1991, when economic liberalisation began, to US$1,265 in 2010, to an estimated US$1,723 in 2016. It is expected to grow to US$2,358 by 2020. However, it has remained lower than those of other Asian developing countries like Indonesia, Malaysia, Philippines, Sri Lanka, and Thailand, and is expected to remain so in the near future. Its GDP per capita is higher than Bangladesh, Pakistan, Nepal, Afghanistan and others.
More InfoIndia accounts for the bulk of the Indian subcontinent, lying atop the Indian tectonic plate, a part of the Indo-Australian Plate. India's defining geological processes began 75 million years ago when the Indian Plate, then part of the southern supercontinent Gondwana, began a north-eastward drift caused by seafloor spreading to its south-west, and later, south and south-east. Simultaneously, the vast Tethyan oceanic crust, to its northeast, began to subduct under the Eurasian Plate. These dual processes, driven by convection in the Earth's mantle, both created the Indian Ocean and caused the Indian continental crust eventually to under-thrust Eurasia and to uplift the Himalayas. Immediately south of the emerging Himalayas, plate movement created a vast trough that rapidly filled with river-borne sediment and now constitutes the Indo-Gangetic Plain. Cut off from the plain by the ancient Aravalli Range lies the Thar Desert.
More InfoThe President of India is the supreme commander of the nation's armed forces; with 1.395 million active troops, they compose the world's second-largest military. It comprises the Indian Army, the Indian Navy, the Indian Air Force, and the Indian Coast Guard. The official Indian defence budget for 2011 was US$36.03 billion, or 1.83% of GDP. For the fiscal year spanning 2012–2013, US$40.44 billion was budgeted. According to a 2008 Stockholm International Peace Research Institute (SIPRI) report, India's annual military expenditure in terms of purchasing power stood at US$72.7 billion. In 2011, the annual defence budget increased by 11.6%, although this does not include funds that reach the military through other branches of government. As of 2012, India is the world's largest arms importer; between 2007 and 2011, it accounted for 10% of funds spent on international arms purchases. Much of the military expenditure was focused on defence against Pakistan and countering growing Chinese influence in the Indian Ocean. In May 2017, the Indian Space Research Organisation launched the South Asia Satellite, a gift from India to its neighbouring SAARC countries. In October 2018, India signed a US$5.43 billion (over ₹400 billion) agreement with Russia to procure four S-400 Triumf surface-to-air missile defence systems, Russia's most advanced long-range missile defence system.
More InfoAveraging an economic growth rate of 7.5% for several years prior to 2007, India has more than doubled its hourly wage rates during the first decade of the 21st century. Some 431 million Indians have left poverty since 1985; India's middle classes are projected to number around 580 million by 2030. Though ranking 51st in global competitiveness, as of 2010, India ranks 17th in financial market sophistication, 24th in the banking sector, 44th in business sophistication, and 39th in innovation, ahead of several advanced economies. With seven of the world's top 15 information technology outsourcing companies based in India, as of 2009, the country is viewed as the second-most favourable outsourcing destination after the United States. India's consumer market, the world's eleventh-largest, is expected to become fifth-largest by 2030.
More InfoWe don't show ads. Help us keep it that way.