vania-janet/multiturn-rag-retrieval-data huggingface dataset:
Economy of India
Textile industry contributes about 4 per cent to the country 's GDP , 14 per cent of the industrial production , and 17 per cent to export earnings . India 's textile industry has transformed in recent years from a declining sector to a rapidly developing one . After freeing the industry in 2004 -- 2005 from a number of limitations , primarily financial , the government permitted massive investment inflows , both domestic and foreign . From 2004 to 2008 , total investment into the textile sector increased by 27 billion dollars . Ludhiana produces 90 % of woollens in India and is known as the Manchester of India . Tirupur has gained universal recognition as the leading source of hosiery , knitted garments , casual wear and sportswear . Expanding textile centres such as Ichalkaranji enjoy one of the highest per - capita incomes in the country . India 's cotton farms , fibre and textile industry provides employment to 45 million people in India , including some child labour ( 1 % ) . The sector is estimated to employ around 400,000 children under the age of 18 .
Automotive industry in India
But after 1970 , with restrictions on the import of vehicles set , the automotive industry started to grow ; but the growth was mainly driven by tractors , commercial vehicles and scooters . Cars still remained a major luxury item . In the 1970s , price controls were finally lifted , inserting a competitive element into the automobile market . However , by the 1980s , the automobile market was still dominated by Hindustan and Premier , who sold superannuated products in fairly limited numbers . During the eighties , a few competitors began to arrive on the scene .
India
In 2017 , the Indian economy was the world 's sixth largest by nominal GDP and third largest by purchasing power parity . Following market - based economic reforms in 1991 , India became one of the fastest - growing major economies and is considered a newly industrialised country . However , it continues to face the challenges of poverty , corruption , malnutrition , and inadequate public healthcare . A nuclear weapons state and regional power , it has the second largest standing army in the world and ranks fifth in military expenditure among nations . India is a federal republic governed under a parliamentary system and consists of 29 states and 7 union territories . It is a pluralistic , multilingual and multi-ethnic society and is also home to a diversity of wildlife in a variety of protected habitats .
Economy of India under the British Raj
In the 1890s , Tata launched plans to expand into heavy industry using Indian funding . The Raj did not provide capital , but aware of Britain 's declining position against the U.S. and Germany in the steel industry , it wanted steel mills in India so it did promise to purchase any surplus steel Tata could not otherwise sell . The Tata Iron and Steel Company ( TISCO ) , now headed by his son Dorabji Tata ( 1859 -- 1932 ) , opened its plant at Jamshedpur in Bihar in 1908 . It became the leading iron and steel producer in India , with 120,000 employees in 1945 . TISCO became India 's proud symbol of technical skill , managerial competence , entrepreneurial flair , and high pay for industrial workers .
Economy of India under the British Raj
Several historians have suggested that that the lack of industrialization was because India was still a largely agricultural nation with low wages levels , arguing that wages were high in Britain so cotton producers had the incentive to invent and purchase expensive new labour - saving technologies , and that wages levels were low in India so producers preferred to increase output by hiring more workers rather than investing in technology . Several economic historians have criticized this argument , such as Prasannan Parthasarathi who pointed to earnings data that show real wages in 18th - century Bengal and Mysore were higher than in Britain . Workers in the textile industry , for example , earned more in Bengal and Mysore than they did in Britain , while agricultural labour in Britain had to work longer hours to earn the same amount as in Mysore . According to evidence cited by the economic historians Immanuel Wallerstein , Irfan Habib , Percival Spear , and Ashok Desai , per - capita agricultural output and standards of consumption in 17th - century Mughal India was higher than in 17th - century Europe and early 20th - century British India .
Economy of India
With 1.27 billion people and the world 's third - largest economy in terms of purchasing power , India 's recent growth and development has been one of the most significant achievements of our times . Over the six and half decades since independence , the country has brought about a landmark agricultural revolution that has transformed the nation from chronic dependence on grain imports into a global agricultural powerhouse that is now a net exporter of food . Life expectancy has more than doubled , literacy rates have quadrupled , health conditions have improved . India will soon have the largest and youngest workforce the world has ever seen . At the same time , the country is in the midst of a massive wave of urbanization as some 10 million people move to towns and cities each year in search of jobs and opportunity . It is the largest rural - urban migration of this century . Massive investments will be needed to create the jobs , housing , and infrastructure to meet soaring aspirations and make towns and cities more livable and green . --
Economy of India
For a continuous duration of nearly 1700 years from the year 1 AD , India is the top most economy constituting 35 to 40 % of world GDP . West
Indian rupee
India 's first coins after independence were issued in 1950 in 1 pice , ​ ⁄ , one and two annas , ​ ⁄ , ​ ⁄ and one - rupee denominations . The sizes and composition were the same as the final regal issues , except for the one - pice ( which was bronze , but not holed ) . Independent
Economy of India under the British Raj
British control of trade , and exports of cheap Manchester cotton are cited as significant factors , though Indian textiles had still maintained a competitive price advantage compared to British textiles until the 19th century . Several historians point to the colonization of India as a major factor in both India 's deindustrialization and Britain 's Industrial Revolution . British colonization forced open the large Indian market to British goods , which could be sold in India without any tariffs or duties , compared to local Indian producers who were heavily taxed . In Britain protectionist policies such as bans and high tariffs were implemented to restrict Indian textiles from being sold there , whereas raw cotton was imported from India without tariffs to British factories which manufactured textiles . British economic policies gave them a monopoly over India 's large market and raw materials such as cotton . India served as both a significant supplier of raw goods to British manufacturers and a large captive market for British manufactured goods .
India
By the early 18th century , with the lines between commercial and political dominance being increasingly blurred , a number of European trading companies , including the English East India Company , had established coastal outposts . The East India Company 's control of the seas , greater resources , and more advanced military training and technology led it to increasingly flex its military muscle and caused it to become attractive to a portion of the Indian elite ; these factors were crucial in allowing the company to gain control over the Bengal region by 1765 and sideline the other European companies . Its further access to the riches of Bengal and the subsequent increased strength and size of its army enabled it to annex or subdue most of India by the 1820s . India was then no longer exporting manufactured goods as it long had , but was instead supplying the British Empire with raw materials , and many historians consider this to be the onset of India 's colonial period . By this time , with its economic power severely curtailed by the British parliament and effectively having been made an arm of British administration , the company began to more consciously enter non-economic arenas such as education , social reform , and culture .
Indian rupee
The Indian rupee replaced the Danish Indian rupee in 1845 , the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961 . Following the independence of British India in 1947 and the accession of the princely states to the new Union , the Indian rupee replaced all the currencies of the previously autonomous states ( although the Hyderabadi rupee was not demonetised until 1959 ) . Some of the states had issued rupees equal to those issued by the British ( such as the Travancore rupee ) . Other currencies ( including the Hyderabadi rupee and the Kutch kori ) had different values .
Kargil War
From the end of the war until February 2000 , the Indian stock market rose by more than 30 % . The next Indian national budget included major increases in military spending .
Economy of India
The citizens of the Indus Valley Civilisation , a permanent settlement that flourished between 2800 BC and 1800 BC , practised agriculture , domesticated animals , used uniform weights and measures , made tools and weapons , and traded with other cities . Evidence of well - planned streets , a drainage system and water supply reveals their knowledge of urban planning , which included the first - known urban sanitation systems and the existence of a form of municipal government . The
Economy of India under the British Raj
The subject of the economic impact of British imperialism on India remains contentious . The issue was raised by British Whig politician Edmund Burke who in 1778 began a seven - year impeachment trial against Warren Hastings and the East India Company on charges including mismanagement of the Indian economy . Contemporary historian Rajat Kanta Ray argues the economy established by the British in the 18th century was a form of plunder and a catastrophe for the traditional economy of Mughal India , depleting food and money stocks and imposing high taxes that helped cause the famine of 1770 , which killed a third of the people of Bengal . In contrast , historian Niall Ferguson argues that under British rule , the village economy 's total after - tax income rose from 27 % to 54 % ( the sector represented three quarters of the entire population ) and that the British had invested £ 270 million in Indian infrastructure , irrigation and industry by the 1880s ( representing one - fifth of entire British investment overseas ) and by 1914 that figure had reached £ 400 million . He also argues that the British increased the area of irrigated land by a factor of eight , contrasting with 5 % under the Mughals .
Economy of India under the British Raj
The British Raj invested heavily in infrastructure , including canals and irrigation systems in addition to railways , telegraphy , roads and ports . The Ganges Canal reached 350 miles from Hardwar to Cawnpore , and supplied thousands of miles of distribution canals . By 1900 the Raj had the largest irrigation system in the world . One success story was Assam , a jungle in 1840 that by 1900 had 4,000,000 acres under cultivation , especially in tea plantations . In all , the amount of irrigated land multiplied by a factor of eight . Historian David Gilmour says :
Economy of India
India 's current account deficit reached an all - time high in 2013 . India has historically funded its current account deficit through borrowings by companies in the overseas markets or remittances by non-resident Indians and portfolio inflows . From April 2016 to January 2017 , RBI data showed that , for the first time since 1991 , India was funding its deficit through foreign direct investment inflows . The Economic Times noted that the development was `` a sign of rising confidence among long - term investors in Prime Minister Narendra Modi 's ability to strengthen the country 's economic foundation for sustained growth '' .
Economy of India
The information technology ( IT ) industry in India consists of two major components : IT services and business process outsourcing ( BPO ) . The sector has increased its contribution to India 's GDP from 1.2 % in 1998 to 7.5 % in 2012 . According to NASSCOM , the sector aggregated revenues of US $ 147 billion in 2015 , where export revenue stood at US $ 99 billion and domestic at US $ 48 billion , growing by over 13 % .
History of advertising
Many elements of Indian culture and industry have British roots , so that British advertising models usually work well . In 1991 , the government dramatically liberalized Indian economy , opening it to international business . The emergence of a moderately affluent middle - class numbering in the hundreds of millions attracts multinational corporations and international advertisers . Advertising in India operates at two levels . Ads for high - value products appear in English - language papers such as The Hindu and The Madras Mail , which targeted Europeans and high - status Indians . By contrast , ads for low - value products are typically placed in vernacular papers and are aimed at a lower middle class with highly restricted spending power . The working class and peasant populations , with very low disposable incomes , are seldom targeted by the advertising agencies . Local merchants might use signs and posters to reach them . Cricket is one sport where the Indians have had an international success , so that cricket stars are prominent endorsers in national advertising .
Economy of India
The World Travel & Tourism Council calculated that tourism generated ₹ 15.24 lakh crore ( US $230 billion ) or 9.4 % of the nation 's GDP in 2017 and supported 41.622 million jobs , 8 % of its total employment . The sector is predicted to grow at an annual rate of 6.9 % to ₹ 32.05 lakh crore ( US $480 billion ) by 2028 ( 9.9 % of GDP ) . Over 10 million foreign tourists arrived in India in 2017 compared to 8.89 million in 2016 , recording a growth of 15.6 % . India earned $21.07 billion in foreign exchange from tourism receipts in 2015 . International tourism to India has seen a steady growth from 2.37 million arrivals in 1997 to 8.03 million arrivals in 2015 . The United States is the largest source of international tourists to India , while European Union nations and Japan are other major sources of international tourists . Less than 10 % of international tourists visit the Taj Mahal , with the majority visiting other cultural , thematic and holiday circuits . Over 12 million Indian citizens take international trips each year for tourism , while domestic tourism within India adds about 740 million Indian travellers .
Economy of India
India liberalised its FDI policy in 2005 , allowing up to a 100 % FDI stake in ventures . Industrial policy reforms have substantially reduced industrial licensing requirements , removed restrictions on expansion and facilitated easy access to foreign technology and investment . The upward growth curve of the real - estate sector owes some credit to a booming economy and liberalised FDI regime . In March 2005 , the government amended the rules to allow 100 % FDI in the construction sector , including built - up infrastructure and construction development projects comprising housing , commercial premises , hospitals , educational institutions , recreational facilities , and city - and regional - level infrastructure . Between 2012 and 2014 , India extended these reforms to defence , telecom , oil , retail , aviation , and other sectors .
India
According to a 2011 PricewaterhouseCoopers ( PwC ) report , India 's GDP at purchasing power parity could overtake that of the United States by 2045 . During the next four decades , Indian GDP is expected to grow at an annualised average of 8 % , making it potentially the world 's fastest - growing major economy until 2050 . The report highlights key growth factors : a young and rapidly growing working - age population ; growth in the manufacturing sector because of rising education and engineering skill levels ; and sustained growth of the consumer market driven by a rapidly growing middle - class . The World Bank cautions that , for India to achieve its economic potential , it must continue to focus on public sector reform , transport infrastructure , agricultural and rural development , removal of labour regulations , education , energy security , and public health and nutrition .
Economy of India
Industry accounts for 26 % of GDP and employs 22 % of the total workforce . According to the World Bank , India 's industrial manufacturing GDP output in 2015 was 6th largest in the world on current US dollar basis ( $559 billion ) , and 9th largest on inflation - adjusted constant 2005 US dollar basis ( $197.1 billion ) . The industrial sector underwent significant changes due to the 1991 economic reforms , which removed import restrictions , brought in foreign competition , led to the privatisation of certain government - owned public - sector industries , liberalised the foreign direct investment ( FDI ) regime , improved infrastructure and led to an expansion in the production of fast - moving consumer goods . Post-liberalisation , the Indian private sector was faced with increasing domestic and foreign competition , including the threat of cheaper Chinese imports . It has since handled the change by squeezing costs , revamping management , and relying on cheap labour and new technology . However , this has also reduced employment generation , even among smaller manufacturers who previously relied on labour - intensive processes .
Economy of India under the British Raj
By the 1870s the peasantry in the districts irrigated by the Ganges Canal were visibly better fed , housed and dressed than before ; by the end of the century the new network of canals in the Punjab at producing even more prosperous peasantry there .
Automotive industry in India
Eventually multinational automakers , such as , Suzuki and Toyota of Japan and Hyundai of South Korea , were allowed to invest in the Indian market , furthering the establishment of an automotive industry in India . Maruti Suzuki was the first , and the most successful of these new entries , and in part the result of government policies to promote the automotive industry beginning in the 1980s . As India began to liberalise its automobile market in 1991 , a number of foreign firms also initiated joint ventures with existing Indian companies . The variety of options available to the consumer began to multiply in the nineties , whereas before there had usually only been one option in each price class . By 2000 , there were 12 large automotive companies in the Indian market , most of them offshoots of global companies . Slow
Indian rupee
After independence , new designs were introduced to replace the portrait of George VI . The government continued issuing the ₹ 1 note , while the Reserve Bank issued other denominations ( including the ₹ 5,000 and ₹ 10,000 notes introduced in 1949 ) . All pre-independence banknotes were officially demonetised with effect from 28 April 1957 .
Economy of India
As the third - largest economy in the world in PPP terms , India has attracted foreign direct investment ( FDI ) . During the year 2011 , FDI inflow into India stood at $36.5 billion , 51.1 % higher than the 2010 figure of $24.15 billion . India has strengths in telecommunication , information technology and other significant areas such as auto components , chemicals , apparels , pharmaceuticals , and jewellery . Despite a surge in foreign investments , rigid FDI policies were a significant hindrance . Over time , India has adopted a number of FDI reforms . India has a large pool of skilled managerial and technical expertise . The size of the middle - class population stands at 300 million and represents a growing consumer market .
Economy of India under the British Raj
British investors built a modern railway system in the late 19th century -- it became the then fourth largest in the world and was renowned for quality of construction and service . The government was supportive , realising its value for military use , as well as its value for economic growth . All the funding and management came from private British companies . The railways at first were privately owned and operated , and run by British administrators , engineers and skilled craftsmen . At first , only the unskilled workers were Indians .
Economy of India
As the government has eased 87 foreign investment direct rules across 21 sectors in the last three years , FDI inflows hit $60.1 billion between 2016 and 2017 in India . Outflows
Economy of India
The Indian insurance business had been under - developed with low levels of insurance penetration . Post liberalisation , the sector has succeeded in raising penetration from 2.3 ( life 1.8 and non-life 0.7 ) in 2000 to 5.1 ( life 4.4 and non-life 0.7 ) in 2010 .
Economy of India
Jawaharlal Nehru , the first prime minister of India , along with the statistician Prasanta Chandra Mahalanobis , formulated and oversaw economic policy during the initial years of the country 's independence . They expected favourable outcomes from their strategy , involving the rapid development of heavy industry by both public and private sectors , and based on direct and indirect state intervention , rather than the more extreme Soviet - style central command system . The policy of concentrating simultaneously on capital - and technology - intensive heavy industry and subsidising manual , low - skill cottage industries was criticised by economist Milton Friedman , who thought it would waste capital and labour , and retard the development of small manufacturers . The rate of growth of the Indian economy in the first three decades after independence was derisively referred to as the Hindu rate of growth by economists , because of the unfavourable comparison with growth rates in other Asian countries .
Economy of India
In early modern Europe , there was significant demand for products from Mughal India , particularly cotton textiles , as well as goods such as spices , peppers , indigo , silks , and saltpeter ( for use in munitions ) . European fashion , for example , became increasingly dependent on Mughal Indian textiles and silks . From the late 17th century to the early 18th century , Mughal India accounted for 95 % of British imports from Asia , and the Bengal Subah province alone accounted for 40 % of Dutch imports from Asia . In contrast , there was very little demand for European goods in Mughal India , which was largely self - sufficient . Indian goods , especially those from Bengal , were also exported in large quantities to other Asian markets , such as Indonesia and Japan . At the time , Mughal Bengal was the most important center of cotton textile production and shipbuilding .
Economy of India under the British Raj
In 1853 the first passenger train service was inaugurated between Bori Bunder in Bombay and Thane , covering a distance of 34 km ( 21 mi ) . The route mileage of this network increased from 1,349 km ( 838 mi ) in 1860 to 25,495 km ( 15,842 mi ) in 1880 -- mostly radiating inland from the three major port cities of Bombay , Madras , and Calcutta . Most of the railway construction was done by Indian companies supervised by British engineers . The system was heavily built , in terms of sturdy tracks and strong bridges . Soon several large princely states built their own rail systems and the network spread to almost all the regions in India . By 1900 India had a full range of rail services with diverse ownership and management , operating on broad , metre and narrow gauge networks .
Economy of India
From 2000 to 2010 , the country attracted $178 billion as FDI . The inordinately high investment from Mauritius is due to routing of international funds through the country given significant tax advantages -- double taxation is avoided due to a tax treaty between India and Mauritius , and Mauritius is a capital gains tax haven , effectively creating a zero - taxation FDI channel . FDI accounted for 2.1 % of India 's GDP in 2015 .