Introduction of India

Introduction of India:

India, officially the Republic of India is a country in South Asia. It is the second-most population country in the world with over 1.2 billion of people.New Delhi is the capital of India and is the heart of economic and political.

Moreover, The Indian economy is the world's seventh-largest by nominal GDP and third-largest by purchasing power parity (PPP). Following market-based economic reforms in 1991, India became one of the fastest-growing major economies

Nowadays, India is no longer being a poor country. With advanced technology, better economic system and different aspects, it becomes a poetical market (Emerging Market).

Macroeconomic indication of India by comparing with Vietnam:

Table 1

India

China

GDP

1877 USD Billion

9240 USD billion

Inflation Rate

5.01%

1.2 %

Unemployment Rate

4.9%

4.1 %

Trade Balance

-10406 USD Million

595 USD Million

Government Budget

-4.5% of GDP

-2.1% of GDP

From the table1,

First, GDP of India is 8 times lower than China. It means that the economic performance of China is better than India. People in China are more welfare

Second, normally, stable inflation means that the economic performance is going a good direction. However, as inflation rate of India is very high, it raises 5% per year. People in India need to spend more money