(i) A fast growing population of working age is an important factors.
(ii) There are 700 hundred million Indians are under the age of 35 and the demographics show Indian growth in the next 20 years at least.
(iii) India has a strong legal system that helps to the Growth of Indian development.
(iv) There are many English language speakers which is a key to attracting inward investment from companies such as those specializing in Information Technology.
(v) India's economy has successfully developed in highly advanced and attractive clusters of businesses in the technology space. For example, the rapid emergence of Bangalore as a hub for global software businesses.
(vi) External economies of scale have deepened their competitive advantages in many related industries.

a) Several important goods are services left out of the GDP:
i) The GDP includes only the goods and services sold in the market.
ii) The services provided by the parents to their children is very important but it is not included in the GDP because it is not sold in the market.
iii) Likewise clean air, which is vital for a healthy life, has no market value and is left out of the GDP.
b) GDP measures only quantity but not quality :
i) In the 1970s schools and banks did not permit the use of ballpoint pens.
ii) This is because, the ones available in India were of very poor quality.
iii) Since then, not only has there been a substantial increase in the quantity of ballpoint pens produced in India but their quality has also improved a lot.
iv) The improvement in quality of goods is very important but it is not captured by the GDP.
c) GDP does not tell us about the way income is described in the country:
The GDP of a country may be growing rapidly but income may be distributed so unequally that only a small percentage of people may be benefitting from it.
d) The GDP does not tell us about the kind of life people are living:
A high level of per capita real GDP can go hand - in - hand with very low health condition of people, an undemocratic political system, high pollution and high suicide rate.

Contribution of different sectors GD P in India:
i) Gross Value Added (GVA) at current prices for services sector is estimated at 92.6 lakh crore in 2018 - 19.
ii) Services sector accounts for 54.40% of total India's (GVA) of 169.61 lakh crore Indian Rupees.
iii) With GVA of Rs. 50.43 lakh crore, Industry sector contributes 29.73%.
iv) Agriculture and allied sector shares 15.87%.
v) At 2011-12 prices, composition of Agriculture &allied, Industry and services sectors are 14.39%, 31.46% and 54.15% respectively.
vi) The share of primary like agriculture, forestry, fishing and mining and quarrying.
vii) Secondary (Industry) like, manufacturing, electricity, gas, water supply, utility services and construction, tertiary (services) like, trade, hotels, transport, communication etc. have been estimated as 18.57%, 27.03%, 54.40%.
viii) According to sector wise India GDP composition in 2017 are Agriculture (15.4%), Industry (23%) and services (61.5%).
ix) India is 2nd largest producer of agriculture product.
x) India accounts for 7.39% of total global agricultural output.
xi) In Industry sector, India world rank is 6.
xii) In service sector, India world rank is 8.
xiii) Contribution of Agriculture sector in Indian economy is much higher than world's average 6.4%.
xiv) Contribution of Industry and services sector is lower than world's average 30% for Industry sector and 63% for services sector.
xv) At previous methodology, composition of Agriculture & allied, Industry and services sector was 51.81%, 14.16% and 33.25% respectively at current prices in 1950-51.
(xvi) Share of Agriculture & allied sector has declined at 18.20% in 2013 - 14.
xvii) Share of services sector has improved to 57.03%.
xviii) Share of Industry sector has also increased to 24.77%.

i) India first undertook the policy of closed trade. This was to give a thrust to domestic industries and reduce dependence on foreign products and companies.
ii) Trade and interaction with the outside world remained limited.
iii) In 1991 India began to follow the policy of free trade and liberalization and allowed foreign companies to enter the Indian economy.
iv) Under Five year plans a thrust was given to employment generation. This was to give the rising population job opportunities.
v) Rural development was also given importance.
vi) Poverty alleviation came as a result of rural development and a part of the development path of India.
vii) The public sector was given significant importance.
viii) Private companies and industries were subject to strict regulations and standards.
ix) It was believed that the government was the sole protector of the people and would work towards social welfare.
x) For the two decades there has been a rise in the GDP and per capita income.
xi) India had attained the status of middle income country category
xii) The life expectancy at birth is 65 years. India has followed a different path of development from many other countries.