Introduction and Background of India

977 Words Feb 17th, 2018 4 Pages
Indian rupee is the official currency of the Republic of India. On the other hand, Indian became world’s eleventh largest by nominal GDP (Gross domestic product) and third largest by the PPP (Purchasing power parity) after India became an independent nation in 1947. The first 45 years after the independence and the last twenty years as a free market economy. At the same time, India is a country considered newly industrialized country, in Indian you can see unequal standard of living, same as China, Thailand and other Asian countries. In India, forty percent of the population lives below the international poverty line of 1.25 dollar per day. Moreover, India has a mixed economy structure which means that the country has both private and government operations within the market system. The tourism industry is an important part of the Indian economy, from the year 2005-06 and 2006-07, it contribution to the GDP and to the employment in the country around six present to nigh present. Therefore, hospitality plays a very important roll. For example, Taj hotel is a great example of economic impact in Indian hospitality industry, because of the terrorist attacks the tourism business was gone from India. People were afraid to go to India, so than hospitality industry was went down at that time…
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