India is home to two major language families: Indo-Aryan (spoken by about 74% of the population) and Dravidian (spoken by 24% of the population). Other languages spoken in India come from the Austroasiatic and Sino-Tibetan language families. India has no national language. Hindi, with the largest number of speakers, is the official language of the government. English is used extensively in business and administration and has the status of a "subsidiary official language"; it is important in education, especially as a medium of higher education. Each state and union territory has one or more official languages, and the constitution recognises in particular 22 "scheduled languages".
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 InfoAccording 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 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 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 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.
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