The economy of India is a developing mixed economy. It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capita GDP (nominal) with $2,134 and 122nd in per capita GDP (PPP) with $7,783 as of 2018. After the 1991 economic liberalisation, India achieved 6-7 % average GDP growth annually. In FY 2015 and 2018 India's economy became the world's fastest growing major economy, surpassing China.

Based on this passage, what type of economic system does india have? Let's think fast. Stream of consciousness:
The relevant sentence in the passage is: The economy of India is a developing mixed economy. So the final answer is a developing mixed economy.