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Welcome to Embassy of India to Austria and Montenegro - In a Nutshell
In a Nutshell
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Located in South Asia, India is the seventh largest, and the second most populous country in the world. Home to the Indus Valley civilisation and known for its historic trade routes and vast empires, India is recognised for its commercial and cultural wealth. It is the centre of amalgamation of many religions and ethnicities which have shaped the country’s diverse culture. Colonised by the United Kingdom from early eighteenth century, India became a modern nation state in 1947, after a struggle for independence that was remarkable for its largely non-violent resistance and is the most populous democracy in the world today.

As one of the oldest civilizations in the world with a kaleidoscopic variety and rich cultural heritage, it has achieved all-round socio-economic progress during the last 62 years of its Independence. India has become self-sufficient in agricultural production and is now one of the top industrialized countries in the world and one of the few nations to have gone into outer space to conquer nature for the benefit of the people. It covers an area of 32,87,263 sq. km, extending from the snow-covered Himalayan heights to the tropical rain forests of the south. As the 7th largest country in the world, India stands apart from the rest of Asia, marked off as it is by mountains and the sea, which give the country a distinct geographical entity. Bounded by the Great Himalayas in the north, it stretches southwards and at the Tropic of Cancer, tapers off into the Indian Ocean between the Bay of Bengal on the east and the Arabian Sea on the west. Natural resources in India include coal (fourth largest reserves in the world), iron ore, manganese, mica, bauxite, titanium ore, chromite, natural gas, diamonds, petroleum, limestone, arable land.

The 1950 Constitution provides for a parliamentary system of Government with a bicameral parliament and three independent branches: the executive, the legislature and the judiciary. The country has a federal structure with elected governments in States. India’s population, as on 1 March 2001 stood at 1,028 million (532.1 million males and 496.4 million females). The population is spread 28 states and 7 union territories. They are: Andhra Pradesh, Assam, Arunachal Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Orissa, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand, Uttar Pradesh and West Bengal. Union Territories are: Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, National Capital Territory of Delhi, Lakshadweep and Puducherry.

Economy

Asian Development Bank predicts India's gross domestic product (GDP) to grow by 6 per cent for 2013-14.

Moreover, World Bank sees 6.7 per cent GDP growth for India by 2015.

Gross Domestic Product (GDP) Composition by Sector

  • Services: 65 per cent
  • Industry: 18 per cent
  • Agriculture: 17 per cent
  • Forex Reserves: US$ 354,286.6 million. As on June 12, 2015
  • Gross Fixed Capital Formation (GFCF): Gross Fixed Capital Formation in India decreased to 4957.25 INR Billion in the second quarter of 2014 from 5356.22 INR Billion in the first quarter of 2014. Gross Fixed Capital Formation in India averaged 3568.76 INR Billion from 2001 until 2014, reaching an all time high of 5356.22 INR Billion in the first quarter of 2014 and a record low of 2021.90 INR Billion in the first quarter of 2002. Gross Fixed Capital Formation in India is reported by the Ministry of Statistics and Programme Implementation (MOSPI).
  • Value of Exports: Imports during May, 2015 were valued at US $32752.99 (Rs.208965.06 crore) which was 16.52 per cent lower in Dollar terms and 10.19 per cent lower in Rupee terms over the level of imports valued at US $ 39233.24 million (Rs. 232672.72 crore) in May, 2014. Cumulative value of imports for the period April-May 2015-16 was US $65800.01 million (Rs 416345.69 crore) as against US $ 74953.27 million (Rs 448266.65 crore) registering a negative growth of 12.21 per cent in Dollar terms and 7.12 per cent in Rupee terms over the same period last year.
  • Export Partners: US, Germany, UAE, China, Japan, Thailand, Indonesia and European Union. India is also tapping newer markets in Africa and Latin America
  • Currency (code): Indian rupee (INR)
  • Exchange Rates: Indian rupees per US dollar - 1 USD = 63.81 INR (June 20, 2015)
  • Fiscal Year: 1 April - 31 March
  • Cumulative FDI equity Inflows: US$ 41,223  million (from April, 2014 to February, 2015)
  • Share of Top Investing Countries FDI Equity Inflows: Mauritius, Singapore, UK, Japan, Netherlands, USA, Cyprus, Germany, France, Switzerland, (as on February, 2015)
  • Major Sectors Attracting Highest FDI Equity Inflows: Services Sector, Construction Development, Telecommunications, Computer Software and Hardware, Drugs and Pharmaceuticals, Automobile (as in February 2015)

India and Austria

Diplomatic relations between India and Austria were established in 1949.President Fischer visited India in February 2005.The last presidential visit from India to Austria took place in October 2011 led by President PratibhaDevisinghPatil.

There have been over 500 business collaborations (including over 100 technological and over 60 involving financial participation, representation offices) between the two countries. There are estimated over 10,000 Indians (majority from Kerala) living in Austria - working primarily in the health care and business sectors

For more information on India Austria bilateral trade, please visit our page with the latest bilateral trade trends and figures.

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