According to the World Bank report, India has evolved as a $2 trillion economy now. The country’s GDP in 2014 crossed the $2-trillion mark stands at $2.067 trillion, at present.
According to reports, India has added 1 trillion to its economy, in just a short span of 7 years. In the context of income, the said country is in the lower middle income category.
The gross national income per person in India has risen to $1,610 that converts to INR 1,01,430 by the current exchange rate. So, this year, India is among the fastest growing economies in the world.
Raghuram Rajan, the governor of RBI, said that the Indian economy was earlier in a recovery phase. As per Rajan, the India’s exposure to Greece was very limited. He further added that after the initial burst of volatility, the potential investors will start differentiating.
Mr. Rajan also says that the exports have been weak across all Asian economies, except China. On monsoon, the RBI governor said that the news on the rain front has been good, so far. There are varying predictions further, he said.