Must Know facts about India

India is set to emerge as the world’s third largest economy by 2030, according to a Standard Chartered Global Research study.

1. By 2030, India will be at number three position with an economy of $30.3 trillion. While China will be the topper with a $73.5 trillion economy, the United States will be ranked second at $38.2 trillion, says StanChart.

India could be 8.4 times bigger than it is today, while China is estimated to grow 4 times bigger and the European Union and the US 1.7 times, by 2030.

StanChart said that within India there is often a hesitation to anticipate the ability of the economy to grow at a faster pace.

2. The Indian economy is the world’s tenth largest in terms of nominal GDP and the fourth largest in terms of purchasing power parity.

India is likely to grow faster, on average, than China over the next two decades.

3. Around 25 per cent of the world’s new workers will be Indian in the next three years. The average Indian is nearly 20 years younger than the average Japanese.

4. Over half of India’s population is below 25 years. By 2020, the average age of an Indian is expected to be 29 years.

5.  India now has a record number of 55 billionaires, according to the Forbes 2011 world billionaires’ list.

6. India’s telecommunication industry, the world’s fastest growing, added 227 million subscribers during 2010-11.

7. India is the largest producer in the world of milk, jute and pulses. India is also the second largest producer and the largest consumer of silk in the world.

8. India has the world’s third largest road network, covering about 3.3 million kilometers and carrying 65 per cent of freight and 80 per cent of passenger traffic. Container traffic is growing at 15 per cent a year.

9. Six low-income states – Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa and Uttar Pradesh – are home to more than one third of India’s population.

10. India has the largest number of post offices in the world.

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