Indian Economy Transition Quiz

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What led to the adoption of a broad economic liberalisation in India in 1991?

Acute balance of payments crisis

What was the economic policy of India like after independence until 1991?

Promoted protectionist economic policies and extensive Sovietization

Which sector fuelled India's GDP apart from private consumption?

Government spending

What drives nearly 70% of India's GDP?

Domestic consumption

In 2022, what was India's global rank as an exporter?

9th-largest exporter

What type of economy does India have?

mixed middle-income developing social market economy

What is India's global rank by nominal GDP?

fifth

What crisis led to the adoption of broad economic liberalisation in India in 1991?

balance of payments crisis

What percentage of India's GDP is driven by domestic consumption?

70%

What has been the annual average GDP growth in India since the start of the 21st century?

6% to 7%

Test your knowledge on the transition of India's economy from a mixed planned economy to a mixed middle-income developing social market economy. Explore the notable public sector in strategic sectors and India's global economic rankings.

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