India

In which year did India rank 51st in financial market sophistication?

Averaging 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.


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  • In the 6th and 7th centuries, the first devotional hymns were created in the Tamil language. They were imitated all over India and led to both the resurgence of Hinduism and the development of all modern languages of the subcontinent. Indian royalty, big and small, and the temples they patronised drew citizens in great numbers to the capital cities, which became economic hubs as well. Temple towns of various sizes began to appear everywhere as India underwent another urbanisation. By the 8th and 9th centuries, the effects were felt in South-East Asia, as South Indian culture and political systems were exported to lands that became part of modern-day Myanmar, Thailand, Laos, Cambodia, Vietnam, Philippines, Malaysia, and Java. Indian merchants, scholars, and sometimes armies were involved in this transmission; South-East Asians took the initiative as well, with many sojourning in Indian seminaries and translating Buddhist and Hindu texts into their languages.

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  • India contains 172 IUCN-designated threatened animal species, or 2.9% of endangered forms. These include the endangered Bengal tiger and the Ganges river dolphin. Critically endangered species include: the gharial, a crocodilian; the great Indian bustard; and the Indian white-rumped vulture, which has become nearly extinct by having ingested the carrion of diclofenac-treated cattle. The pervasive and ecologically devastating human encroachment of recent decades has critically endangered Indian wildlife. In response, the system of national parks and protected areas, first established in 1935, was expanded substantially. In 1972, India enacted the Wildlife Protection Act and Project Tiger to safeguard crucial wilderness; the Forest Conservation Act was enacted in 1980 and amendments added in 1988. India hosts more than five hundred wildlife sanctuaries and thirteen¬†biosphere reserves, four of which are part of the World Network of Biosphere Reserves; twenty-five wetlands are registered under the Ramsar Convention.

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