The pharmaceutical industry in India is among the significant emerging markets for the global pharmaceutical industry. The Indian pharmaceutical market is expected to reach $48.5 billion by 2020. India's R & D spending constitutes 60% of the biopharmaceutical industry. India is among the top 12 biotech destinations in the world. The Indian biotech industry grew by 15.1% in 2012–2013, increasing its revenues from ₹204.4 billion (Indian rupees) to ₹235.24 billion (US$3.94 billion at June 2013 exchange rates).
According to the International Monetary Fund (IMF), the Indian economy in 2019 was nominally worth $2.9 trillion; it is the fifth-largest economy by market exchange rates, and is around $11 trillion, the third-largest by purchasing power parity, or PPP. With its average annual GDP growth rate of 5.8% over the past two decades, and reaching 6.1% during 2011–2012, India is one of the world's fastest-growing economies. However, the country ranks 139th in the world in nominal GDP per capita and 118th in GDP per capita at PPP. Until 1991, all Indian governments followed protectionist policies that were influenced by socialist economics. Widespread state intervention and regulation largely walled the economy off from the outside world. An acute balance of payments crisis in 1991 forced the nation to liberalise its economy; since then it has moved slowly towards a free-market system by emphasising both foreign trade and direct investment inflows. India has been a member of WTO since 1 January 1995.
More InfoThe original Indian Plate survives as peninsular India, the oldest and geologically most stable part of India. It extends as far north as the Satpura and Vindhya ranges in central India. These parallel chains run from the Arabian Sea coast in Gujarat in the west to the coal-rich Chota Nagpur Plateau in Jharkhand in the east. To the south, the remaining peninsular landmass, the Deccan Plateau, is flanked on the west and east by coastal ranges known as the Western and Eastern Ghats; the plateau contains the country's oldest rock formations, some over one billion years old. Constituted in such fashion, India lies to the north of the equator between 6° 44′ and 35° 30′ north latitude and 68° 7′ and 97° 25′ east longitude.
More InfoIndia 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.
More InfoAccording to a 2011 PricewaterhouseCoopers (PwC) report, India's GDP at purchasing power parity could overtake that of the United States by 2045. During the next four decades, Indian GDP is expected to grow at an annualised average of 8%, making it potentially the world's fastest-growing major economy until 2050. The report highlights key growth factors: a young and rapidly growing working-age population; growth in the manufacturing sector because of rising education and engineering skill levels; and sustained growth of the consumer market driven by a rapidly growing middle-class. The World Bank cautions that, for India to achieve its economic potential, it must continue to focus on public sector reform, transport infrastructure, agricultural and rural development, removal of labour regulations, education, energy security, and public health and nutrition.
More InfoThe Indian climate is strongly influenced by the Himalayas and the Thar Desert, both of which drive the economically and culturally pivotal summer and winter monsoons. The Himalayas prevent cold Central Asian katabatic winds from blowing in, keeping the bulk of the Indian subcontinent warmer than most locations at similar latitudes. The Thar Desert plays a crucial role in attracting the moisture-laden south-west summer monsoon winds that, between June and October, provide the majority of India's rainfall. Four major climatic groupings predominate in India: tropical wet, tropical dry, subtropical humid, and montane.
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