[GKmojo] Whatsapp Notes1. Economy of India1) The country is classified as a newly industrialized country, and one of the G-20 major economies, with an average growth rate of approximately 7% over the last two decades. 2) Maharashtra is the wealthiest Indian state with an annual nominal GDP of US $ 380 billion followed by UP and Tamilnadu. 3) India ranks 139th in per capita GDP (Nominal) with 2134 dollars as of 2018. 4) GDP: Gross Domestic ProductGDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. India's Nominal GDP ~2.848 trillion dollars. (2018) India's rank in world economies by size of GDP (nominal): 6th India's rank in world economies by size of GDP (PPP): 3rd 5) GDP Growth forecast for 2018-19: 7.3% by IMF, ADB and World Bank6) There are 3 sectors in Indian Economy.Contribution of different sectors in Indian GDP: Primary sector (Agriculture): around 17% Secondary sector (Industry): around 29 % Tertiary sector (Service): around 54% 7) Ease of doing business rank of India 2018: 100 8) Trade partners in decreasing order: India's main export partners:- European Union, USA, UAE, Hong Kong and China. India's main import partners: - China, European Union, USA, UAE and Saudi Arabia. 9) Inflation in India is measured by consumer price index.