Indian music ranges over various traditions and regional styles. Classical music encompasses two genres and their various folk offshoots: the northern Hindustani and southern Carnatic schools. Regionalised popular forms include filmi and folk music; the syncretic tradition of the bauls is a well-known form of the latter. Indian dance also features diverse folk and classical forms. Among the better-known folk dances are: the bhangra of Punjab, the bihu of Assam, the Jhumair and chhau of Jharkhand, Odisha and West Bengal, garba and dandiya of Gujarat, ghoomar of Rajasthan, and the lavani of Maharashtra. Eight dance forms, many with narrative forms and mythological elements, have been accorded classical dance status by India's National Academy of Music, Dance, and Drama. These are: bharatanatyam of the state of Tamil Nadu, kathak of Uttar Pradesh, kathakali and mohiniyattam of Kerala, kuchipudi of Andhra Pradesh, manipuri of Manipur, odissi of Odisha, and the sattriya of Assam. Theatre in India melds music, dance, and improvised or written dialogue. Often based on Hindu mythology, but also borrowing from medieval romances or social and political events, Indian theatre includes: the bhavai of Gujarat, the jatra of West Bengal, the nautanki and ramlila of North India, tamasha of Maharashtra, burrakatha of Andhra Pradesh, terukkuttu of Tamil Nadu, and the yakshagana of Karnataka. India has a theatre training institute the National School of Drama (NSD) that is situated at New Delhi It is an autonomous organisation under the Ministry of Culture, Government of India.The Indian film industry produces the world's most-watched cinema. Established regional cinematic traditions exist in the Assamese, Bengali, Bhojpuri, Hindi, Kannada, Malayalam, Punjabi, Gujarati, Marathi, Odia, Tamil, and Telugu languages. The Hindi language film industry (Bollywood) is the largest sector representing 43% of box office revenue, followed by the South Indian Telugu and Tamil film industries which represent 36% combined.
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 513.7-million-worker Indian labour force is the world's second-largest, as of 2016. The service sector makes up 55.6% of GDP, the industrial sector 26.3% and the agricultural sector 18.1%. India's foreign exchange remittances of US$70 billion in 2014, the largest in the world, were contributed to its economy by 25 million Indians working in foreign countries. Major agricultural products include: rice, wheat, oilseed, cotton, jute, tea, sugarcane, and potatoes. Major industries include: textiles, telecommunications, chemicals, pharmaceuticals, biotechnology, food processing, steel, transport equipment, cement, mining, petroleum, machinery, and software. In 2006, the share of external trade in India's GDP stood at 24%, up from 6% in 1985. In 2008, India's share of world trade was 1.68%; In 2011, India was the world's tenth-largest importer and the nineteenth-largest exporter. Major exports include: petroleum products, textile goods, jewellery, software, engineering goods, chemicals, and manufactured leather goods. Major imports include: crude oil, machinery, gems, fertiliser, and chemicals. Between 2001 and 2011, the contribution of petrochemical and engineering goods to total exports grew from 14% to 42%. India was the world's second largest textile exporter after China in the 2013 calendar year.
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 InfoAside from ongoing its special relationship with Russia, India has wide-ranging defence relations with Israel and France. In recent years, it has played key roles in the South Asian Association for Regional Cooperation and the World Trade Organization. The nation has provided 100,000 military and police personnel to serve in 35 UN peacekeeping operations across four continents. It participates in the East Asia Summit, the G8+5, and other multilateral forums. India has close economic ties with South America, Asia, and Africa; it pursues a "Look East" policy that seeks to strengthen partnerships with the ASEAN nations, Japan, and South Korea that revolve around many issues, but especially those involving economic investment and regional security.
More InfoThe 513.7-million-worker Indian labour force is the world's second-largest, as of 2016. The service sector makes up 55.6% of GDP, the industrial sector 26.3% and the agricultural sector 18.1%. India's foreign exchange remittances of US$70 billion in 2014, the largest in the world, were contributed to its economy by 25 million Indians working in foreign countries. Major agricultural products include: rice, wheat, oilseed, cotton, jute, tea, sugarcane, and potatoes. Major industries include: textiles, telecommunications, chemicals, pharmaceuticals, biotechnology, food processing, steel, transport equipment, cement, mining, petroleum, machinery, and software. In 2006, the share of external trade in India's GDP stood at 24%, up from 6% in 1985. In 2008, India's share of world trade was 1.68%; In 2011, India was the world's tenth-largest importer and the nineteenth-largest exporter. Major exports include: petroleum products, textile goods, jewellery, software, engineering goods, chemicals, and manufactured leather goods. Major imports include: crude oil, machinery, gems, fertiliser, and chemicals. Between 2001 and 2011, the contribution of petrochemical and engineering goods to total exports grew from 14% to 42%. India was the world's second largest textile exporter after China in the 2013 calendar year.
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