India to Cross $1 trillion in GDP by Next Year; Fastest GDP Growth in 18 Years
India's nominal GDP is expected to touch about $900 billion this year and next year India is expected to cross $1 trillion in GDP, according to Standard Chartered Bank estimates.
- Manufacturing output growth was seen at 11.3% compared with 9.1% a year ago
- Services sector, which make up more than half of economic activity, were seen growing 11.2% in 2006-'07 compared with 9.8% a year earlier.
- Farming, which generates a 20% of GDP but employs about 60% of the population, was estimated to grow 2.7% percent in 2006-'07.
- Electricity was seen expanding 7.7%.
expects fastest GDP growth in 18 years
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