Leading sectors:
Agriculture
The agricultural sector contains India’s half of the workforce. In the last few years, the cultivated area has risen steadily and has come to encompass more than half of the country’s total area.
The major cultivated crops are wheat, rice and corn. Food crops include potatoes, onions, various greens, eggplants, squashes, and other vegetables, as well as such fruits as mangoes, bananas, mandarin oranges, papayas and melons. Sugar cane, tea, coffee and tobacco are extensively grown.
In the primary sector, fishing is largely practiced along the entire length of the Indian coast and on all its numerous rivers.
Woodworking
In India, the yearly hardwood cut is one of the highest in the world. The woodworking industry is one of the fastest growing industries in the Indian economy, and a variety of ornaments are derived from it.
Along with it, the Indian pulp and paper industry is one of the major producers of paper in the world and, in recent years, has adopted new manufacturing technology.
The textile industry
India’s textile industry accounts for the largest share of manufacturing employment, and it’s one of the most developed fields of the Indian economy. In fact, it’s expected to reach a size of $226 billion by 2023.
The Indian textile industry has moved from a declining sector to one in rapid development. In recent years, the government erased a lot of financial limitations, permitting massive investment inflows, both domestic and foreign.
The renewable energy sector
In the year 2021, India is the world’s 3rd largest renewable energy producer with 38% of energy capacity installed coming from renewable sources. Renewable energy sources include solar, wind, small hydro, biomass, large hydro and nuclear.
India has committed to a goal of 450 GW renewable energy capacity by 2030.
In 2015, India initiated the International Solar Alliance, a partnership of 105 countries with the primary objective to work for efficient consumption of solar energy to reduce dependence on fossil fuels.
The pharmaceutical industry
India’s pharmaceuticals industry has grown in recent years to become a major global manufacturer of health products. In 2021, India is the world’s third largest provider of generic medicines by volume, and it provides a large number of vaccines all over the world.
In terms of the global market, India currently holds an accountable share and is known as “the pharmacy of the world”. The sector is often a mix of public and private enterprise.
The automotive industry
Engineering is the largest sub-sector in Indian industry and the third largest for exports.
In 2022, India became the fourth largest country in the world by valuation of the automotive industry. India is well known for its automotive products such as three wheeler, four wheeler and two wheeler.
India’s strong engineering foundation and expertise in the manufacture of low-cost, fuel-efficient cars has led to the expansion of manufacturing facilities of several automobile companies like Hyundai, Nissan, Toyota, Volkswagen, and Maruti Suzuki.
Telecommunications
India’s telecommunications industry has experienced a rapid rate of market liberalization and growth since the 1990s and has now become the world’s most competitive and one of the fastest growing telecom markets.
Telecommunication has supported the socioeconomic development of India and has played a significant role in narrowing down the rural-urban digital divide to some extent.
Tourism
The Indian tourism industry is important to the country’s economy and is experiencing rapid growth. The country counts 40 World Heritage Sites that are recognised by the United Nations Educational, Scientific and Cultural Organization (UNESCO).
Every year, India hosts nearly 8 million tourists from around the world, including the United States, the United Kingdom and Russia.