The economy of India is identified as a middle income developing market economy.

It is
the world's sixth-largest economy by nominal GDP(Nominal GDP is the market value
of goods and services produced in an economy).There are various sectors that
contribute to India's GDP(Gross domestic product (GDP) the standard measure of
the value added created through the production of goods and services). Some of
the major sectors are Automobile Industry, Steel Industry, Real Estate Industry, Tourism
Industry, Energy SectorThe service sector makes up 50% of GDP and remains the
fastest growing sector, while the industrial sector and the agricultural sector employs a
majority of the labor force. Foreign exchange reserves are assets held on
reserve by a central bank in foreign currencies,  in India decreased to
637000 Million dollars from 640000 Million dollars. Foreign Portfolio
Investment (FPI) involves an investor buying foreign financial assets and it
is controlled by SEBI. Economic reforms that were imposed under Liberalization
include expansion of production capacity, de-servicing producing areas, and
freedom to import goods.  EXIM policy is regulated by the Foreign Trade
Development and Regulation Act, 1992. The main objective of this act is to provide the
development and regulation of foreign trade by facilitating imports and exports in
India..The FMCG market in India is expected to increase at a CAGR of 14.9% to reach
US$ 220 billion by 2025.In Pre‐COVID era India was facing with major
macroeconomic issues such as nearly recession with the inactive GDP growth rate
of 4.7% and post-covid Indian Business Resumption Index economic activity fell from
82.9 to 44.7,startups have been impacted as funding has reduced and Government is
spending more on investment than before in selected various sectors like health-
care,manufacturing etc.India exports of goods and services as percentage of GDP is
18.43% and imports of goods and services as percentage of GDP is 20.96%.

Export goods ● Agricultural products 12%

● Fuels and mining products 18.5%

● Manufacturers 68.7%
Main export partners 14.6% ● United Arab Emirates 9.1% ●
● United States16.8% ● European Union

Imports $474 billion (2019–20)

Import goods● Agricultural products 5.5% ● Fuels and

mining products 38.6%
● Manufacturers 47.9%
Main import partners ● European Union 8.9% ● United States
● China 14.3% 7.3% ●

So,By 2025, one-fifth of the world's working age population will be Indian. By 2030 there
will be over 850 million internet users in India. By 2035 India's five largest cities will have
economies of comparable size to middle income countries today.