India holds the second largest agricultural land in the world comprising of 179.9 million hectares and Agriculture serves as the mainstay of livelihood for the majority of Indian population. Steady investments in technology development, irrigation infrastructure, emphasis on modern agricultural practices and provision of agricultural credit and subsidies are the major factors contributing to agricultural growth.
India has been a hub of Auto component manufacturing companies. The industry is expected to reach a size of 66 billion US $ for the Financial year2015-16. The sector has seen a growth of around 4.4% in the period and is expected to do even better in the future. As per the Ministry of Commerce (Government of India), the size of the market is expected to reach a figure of US$115 billion by FY 2020-21.
With the advancement of Technology and aided by a decent performing economy, the BFSI sector has seen quite a growth in India. India’s service sector accounts for 57% of the GDP and the BFSI sector plays a noteworthy role here. The size of banking assets in India totalled US$ 1.8 trillion in FY 13 and is expected to touch US$ 28.5 trillion in FY 25.Bank deposits have grown at a compound annual growth rate (CAGR) of 21.2 per cent over FY 06-13. In FY 13, total deposits were US$ 1,274.3 billion. The revenue of Indian banks increased from US$ 11.8 billion to US$ 46.9 billion over the period 2001-2010.
India, being a densely populated country, a majority of the population is below the age of 25. Education as a sector has immense potential in India. The industry is expected to reach a size of $100 billion by 2015. The country is home to 1.4 million schools and more than 35,00 educational institutes. With the growing population and more educated masses, the focal point is on quality education services.
Without any doubt, it can be claimed that manufacturing holds the key to a country’s economic growth. Though in recent past, the sector didn’t undergo a great boom, the sector has shown signs of recovery. As per the Ministry of Commerce (Govt. of India), the sector is expected to reach a figure of US$ 1 trillion by 2025. The sector contributes 15.1% to GDP and has a CAGR of 7.5%. The manufacturing PMI is stated to be 52.5 and the country’s Manufacturing Competitiveness Index Score is 7.65.
The IT & ITES sector has contributed significantly to the GDP of India. Indian IT and ITeS industry is divided into four major segments – IT services, business process management (BPM), software products and engineering services, and hardware. The IT services sector accounted for the largest share of the IT and ITeS industry, with a total market size of US$ 56.3 billion during FY13, followed by BPM sector (US$ 20.9 billion), and software products and engineering services (US$ 17.9 billion); the market size for hardware was US$ 13.3 billion during FY12.
The Biotechnology sector in India has been a late bloomer. Though it has not fully matured yet, the industry has shown signs of growth and prosperity. The sector is growing at a CAGR of 22.2 % and is expected to touch 30% within the next ten years.