international payment obligations without rescheduling its debt. Policy
reforms since 1991 have extended earlier economic liberalization and greatly
reduced government controls on production, trade, and investment.
National product:
GDP - exchange rate conversion - $240 billion (FY93 est.)
National product real growth rate:
4% (FY93 est.)
National product per capita:
$270 (FY93 est.)
Inflation rate (consumer prices):
11.9% (1992 est.)
Unemployment rate:
NA%
Budget:
revenues $39.2 billion; expenditures $41.06 billion, including capital
expenditures of $10.2 billion (FY92)
Exports:
$19.8 billion (f.o.b., FY93 est.)
commodities:
gems and jewelry, clothing, engineering goods, leather manufactures, cotton
yarn, and fabric
partners:
USSR 16.1%, US 14.7%, West Germany 7.8% (FY91)
Imports:
$25.5 billion (c.i.f., FY93 est.)
commodities:
crude oil and petroleum products, gems, fertilizer, chemicals, machinery
partners:
US 12.1%, West Germany 8.0%, Japan 7.5% (FY91)
External debt:
$73 billion (March 1992)
Industrial production:
growth rate 2.5% (FY93 est.); accounts for about 25% of GDP
Electricity:
82,000,000 kW capacity; 310,000 million kWh produced, 340 kWh per capita
(1992)
Industries:
textiles, chemicals, food processing, steel, transportation equipment,
cement, mining, petroleum, machinery
Agriculture:
accounts for about 30% of GDP and employs 67% of labor force; principal
crops - rice, wheat, oilseeds, cotton, jute, tea, sugarcane, potatoes;
livestock - cattle, buffaloes, sheep, goats, poultry; fish catch of about 3
million metric tons ranks India among the world's top 10 fishing nations
Illicit drugs:
licit producer of opium poppy for the pharmaceutical trade, but some opium
is diverted to illicit international drug markets; major transit country for
illicit narcotics produced in neighboring countries; illicit producer of
hashish

*India, Economy

Economic aid:
US commitments, including Ex-Im (FY70-89), $4.4 billion; Western (non-US)
countries, ODA and OOF bilateral commitments (1980-89), $31.7 billion; OPEC
bilateral aid (1979-89), $315 million; USSR (1970-89), $11.6 billion;
Eastern Europe (1970-89), $105 million
Currency:
1 Indian rupee (Re) = 100 paise
Exchange rates:
Indian rupees (Rs) per US$1 - 26.156 (January 1993), 25.918 (1992), 22.742
(1991), 17.504 (1990), 16.226 (1989), 13.917 (1988)
Fiscal year:
1 April -